AV BIRLA RAISES HOLD ON CEMENT
Article Abstract:
The Rs20,000 crore Aditya Birla group is to consolidate the cement business of Grasim Industries (GI) and Indian Rayon into a single division in GI. The group will transfer IR's cement business to GI which, in return, will issue shares/GDRs to shareholders of IR at a ratio yet to be fixed. (gs) --------------------------------------------------------- Financial results of Grasim Industries and Indian Rayon for 1997-98 (Rs in crore) --------------------------------------------------------- Particulars Grasim Industries Indian Rayon --------------------------------------------------------- Sales 3,499.84 1,584.73 --------------------------------------------------------- Other income 123.82 77.25 --------------------------------------------------------- Gross profit 442.78 318.86 --------------------------------------------------------- Net profit 230.78 212.51 --------------------------------------------------------- Equity capital 72.31 67.66 --------------------------------------------------------- Reserves 2,395.30 1,510.03 --------------------------------------------------------- Dividend (%) 67.50 50.00 ---------------------------------------------------------
Comment:
Is to consolidate the cement business of Grasim Industries & Indian Rayon into a single division in Grasim Industries
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:
WIMCO BOARDS: BOARDING THE GROWTH ROUTE?
Article Abstract:
Wimco Ltd (WL) is a leading manufacturer of safety matches. It has floated a new company - Wimco Boards Ltd (WBL) - to set up a plant at Ambernath in Maharashtra to make paper boards. The cost of the project would be Rs52.16 crore. To part-finance this project, WBL plans to enter the capital market with 1.13 crore shares to net Rs11.30 crore. Of the 1.13 crore shares, 33 lakh shares would be offered to the promoters and their associates and 80 lakh shares to the public. WL now holds 100 percent stake in WBL. The paid-up capital of WBL would increase from Rs10.34 crore to Rs21.64 crore after this public issue. The Industrial and Finance Corporation of India Ltd (IFCI) has extended a term loan of Rs30.52 crore for the project. The promoters will contribute Rs13.64 crore. (gs) >EN
Comment:
Will set up plant at Ambernath in Maharashtra, India, to make paper boards for project cost of around Rs52.16 crore
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:
ITC TO SEEK FI AID FOR BHADRACHALAM
Article Abstract:
ITC Ltd is looking for finances from financial institutions to bail out ITC Bhadrachalam Paperboards Ltd, its subsidiary, which has shown a loss of Rs49 crore in 1997-98. Out of this loss, the company had provided Rs40 crore towards the account of ITC Bhadrachalam Finance & Investments Ltd which had accumulated losses of Rs49 crore. ITC does not mind selling its 37 percent stake in the finance subsidiary. (khr)
Comment:
Looks for finances from financial firms to bail out subsidiary ITC Bhadrachalam Paperboards which loses Rs49 crore in 1997-98
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: PRIVATE PLACEMENT MOBILISATION UP 65% IN `97-98 MFs SHOW 45% GROWTH IN RESOURCE MOBILISATION. RIGHTS ISSUE MOBILISATION FALLS
- Abstracts: ESSAR SHIPPING IN PACT WITH ESSAR OIL FOR PORT PROJECT. ESSAR SHIPPING CLOCKS Rs10-CR NET
- Abstracts: DAEWOO READIES FOR HUGE HIKES IN PRODUCTION INDIA KEY PRODUCTION BASE: HYUNDAI PAL-PEUGEOT STOPS VICEROY PRODUCTION
- Abstracts: PRIYADARSHINI CEMENT LIMITED KESORAM INDUSTRIES LIMITED CHETTINAD CEMENT'S PAT FALLS 47%
- Abstracts: CONFIGURED TO PERFORM - THE CEREBRA WAY. WIPRO NET ZOOMS 140% IN Q3. SPECIAL RETAIL STORES PLANNED FOR WIPRO, ACER HOME PCs