Wednesday, August 26, 1998
Raasi board clears stake hike plan in Sri Vishnu
In what could be termed as a prelude to a long-drawn battle over Sri Vishnu Cements Ltd (SVCL), the board of India Cements Ltd-controlled Raasi Cement on Tuesday allowed the management to make further investments in SVCL, over and above the 40 per cent stake it is allowed to presently. This enabling provision would help RCL pick up further shares, if required, to increase its stake in SVCL.
EIH earmarks Rs 400-cr investment for city complex
EIH Ltd of the Oberoi group has lined up investments worth Rs 1,200 crore for the next three to four years, vice-chairman and managing director PRS Oberoi told reporters after the company's 28th annual general meeting here on Tuesday. Of the Rs 1,200 crore, around Rs 400 crore has been earmarked for a four-star hotel at the Bandra-Kurla complex in Mumbai. The rest goes into projects at Udaipur and Pune.
Hyderabad Bottling makes open offer for Kakatiya Textiles
Having hived off its aerated drinks business to Bharat Coke, the Hyderabad Bottling Company (HBC) has turned its attention to the textile sector, and has made an open offer to acquire 20% shares of the ailing Kakatiya Textiles Ltd (KTL). The offer from the promoter directors, JS Krishnamurthy, J Seshagiri Rao and JV Choudary, of the company for acquiring the 11,62,200 equity shares is at a price of Rs 5 per share.
|
|
