Friday, April 23, 1999
Reliance net up 3% to Rs 1,704 crore, to pay Rs 3.75 a share
Reliance Industries on Thursday announced a 3% increase in its net profit to Rs 1,704 crore on a turnover of Rs 14,553 crore for the year ended March 31, 1999.
Chhabria shares not to be counted in Herbertsons poll, rules court
Vijay Mallya has won a major battle in the fight for control of Herbertsons. On Thursday, the Mumbai high court ruled that Kishore Chhabria's disputed 20% shares in the company will not be counted in the crucial vote taken at the last annual general meeting of the company for the removal of nine board members.
Indian Oil may offer part-stake in EIL to L&T, Reliance Petroleum
The Indian Oil Corporation is open to the idea of divesting a part of the government's stake in Engineers India (EIL), which it is expected to acquire shortly, to a private player. Industry sources confirmed that the oil PSU was "not too averse" to the idea of offering up to 10% to a company like Larsen & Toubro or Reliance Petroleum.
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