Thursday, November 26, 1998
Reliance, Essar to pick stake in Petronet
Reliance Petroleum (RPL) and Essar Oil have been given an in-principle approval to pick up 10% each in the equity of Petronet India. The three national oil companies -- IOC, BPCL and HPCL -- which hold a combined stake of 50% in Petronet, are believed to have agreed to this proposal in their capacity as co-promoters.
Goodlass Nerolac plans to exit pigment segment, down Thane unit's shutters
The Rs 500-crore Tata group company, Goodlass Nerolac, plans to close down its pigment unit at Thane and gradually exit from pigment manufacture after the conclusion of a recently-declared voluntary retirement scheme.
EID Parry to hike stake in Coromandal Fertilisers
EID Parry (India) Ltd is further consolidating its holdings in Coromandal Fertilisers Ltd (CFL). It is in the process of acquiring a further 28.89% shareholding from Mallinckrodt Inc, a co-promoter at Rs 35.97 per share. The total holding of EID Parry and its subsidiaries would be close to 63% once the latest acquisition is completed.
|
|
