India Cements buys out Raju in Sri Vishnu Cement for Rs 115 cr After holding on for nearly two years, the Raju family patriarch B V Raju has finally agreed to sell off his shareholding in Sri Vishnu Cement to arch rival, the India Cements group, through a negotiated out-of-court deal. Glaxo Wellcome chief not averse to 100% subsidiary British multinational Glaxo Wellcome plans to undertake research and development (R&D) on diseases more relevant to the sub-continent, once India recognises intellectual property rights (IPR). HLL nine-month net jumps 25.8% FMCG major Hindustan Lever Ltd (HLL) on Wednesday announced a 25.8% growth in net profit to Rs 724.82 crore in the first nine months ended September 30, 1999, against Rs 576.33 crore in the corresponding period last year. IDBI first-half net dives 30% The Industrial Development Bank of India's (IDBI) net profit in the first half has shrunk by 30% from Rs 705 crore to Rs 496 crore during first half half of 1999-2000, primarily due to higher write-offs and interest cost. Junk cash-reserve ratio mechanism The time has now come for radical reforms to free the banking sector of its constraints especially for banks that are financially strong. Banks need operational freedom, board control, lesser regulatory control and better regulation. Nominal interest rates must be cut Monetary management, in a liberalised world, is becoming increasingly simple. Central banks have limited objectives and instruments to control aggregate demand in the economy.
India Cements buys out Raju in Sri Vishnu Cement for Rs 115 cr
Glaxo Wellcome chief not averse to 100% subsidiary
HLL nine-month net jumps 25.8%
IDBI first-half net dives 30%
Junk cash-reserve ratio mechanism
Nominal interest rates must be cut