GAMMON INDIA: SELL EXISTING SHARES ..

Article Abstract:

Gammon India (GI) is engaged in civil construction. It is floating a rights issue in the ratio of 2 shares for 1 share held in the company. These shares are priced Rs40 each. The rights issue will mobilise Rs17.31 crore. The issue opened on August 4, 1998, and will close on September 2, 1998. The fund will be used to part-finance Gammon Infrastructure, a group company. The promoter, Abhijit Rajan, holds 36 percent stake in GI. The public holding is 35.51 percent. Non-resident Indians hold 22.30 percent stake and financial institutions 6.19 percent in GI. (rk) >EN

Comment:

Is floating a rights issue in the ratio of 2 shares for 1 share held in the company

Engineering Services, Securities issued, listed, Civil Engineering, Article, Gammon India Ltd.

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CASTROL INDIA

Article Abstract:

In the 9 months ended September 1998, Castrol India Ltd made a net profit of Rs39.80 crore on a turnover of Rs241.80 crore. It is expected to make a net profit of Rs178 crore on a turnover of Rs1,100 crore in the whole of 1998. It holds 21 percent of the lubricants market in India. Automotive lubricants account for around 78 percent of its sales and industrial lubricants the rest. It has over 40,000 retailers spread across India. Its 60,000 kilolitres plant at Silvassa is exempted from income-tax. (tsm)

Sales & consumption, Petroleum Lubricating Oil and Grease Manufacturing, Lube Oils, Lubricating oils, Castrol India Ltd

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