NAVARATNAS LOSE 23% OF MARKET CAP
Article Abstract:
The cumulative market captialisation of nine Navaratna public sector units (PSUs) has been eroded by 23 percent (around Rs20,000 crore) at the Bombay Stock Exchange since January 1999. This has been attributed to Government's decision to promote crossholdings between the PSUs to achieve its disinvestment target. The experts say that the crossholding (wherein one PSU buys Government's stake in another PSU and the proceeds of the deal will go to the Government) method will not be popular in the oil companies since the amount paid will be dead investment as the shares either cannot be sold or hard to sell. (um)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
SIV CONTAINS H1 LOSS NET LOSS AT Rs42.74 CR
Article Abstract:
SIV Industries Ltd (SIL) of Coimbatore has incurred a net loss of Rs42.74 crore in the first half of 1998-99 (a net loss of Rs53.18 crore in the first half of 1997-98). Its gross sales has increased by 119 percent to Rs135.72 crore (Rs62.02 crore). It has incurred a total expenditure of Rs101.28 crore (Rs52.9 crore) and interest charges of Rs27.21 crore (Rs23.11 crore). Provision for depreciation was at Rs11.17 crore (Rs12.4 crore) while other income dropped to Rs1.62 crore (Rs6.01 crore). The profitability of SIL has been affected by the non-operation of its pulp plant due to environment related issues. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
SIV INDUSTRIES
Article Abstract:
The fixed deposit programme of SIV Industries Ltd (SIV) has been revised by the Credit Rating Information Services of India Ltd (Crisil). Crisil has revised the rating from FA+ to FA- due to a delay in the restart of SIV's pulp plant. The financial performance and the cash flow of SIV have been affected as it had to close its plant due to environment related problems. (ag)
Comment:
Fixed deposit program of thids co is revised by the Credit Rating Information Services of India from FA+ to FA-
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: NANDAS TO HIKE STAKE IN EYML IN LIEU OF PAYMENT HMT Q3 LOSS LOWER AT Rs25.43 Cr. EEL TO GIVE 40% DIVIDEND DESPITE 43% DROP IN NET
- Abstracts: BPL ENGG RESULTS FALL SHORT OF PROJECTIONS NEW STANDARD ENGG CO LOSS AT Rs27 LAKH. TRIVENI ENGG POSTS Rs1.36-CR NET
- Abstracts: SIEMENS TIES THE FOOTLOOSE WITH `LOYALTY'. WORKERS' STIR COSTS EYML Rs200 CRORE IN TURNOVER
- Abstracts: KAJARIA CERAMICS LIMITED SPARTEK TURNS AROUND WITH Rs50.49-LAKH NET PROFIT IN Q2
- Abstracts: STATE BANK OF INDIA: VENTURING INTO NEW AREAS BANK OF INDIA GLOBAL TRUST BANK: BRIGHT OUTLOOK