The Financial Express -- News

Tuesday, August 19 1997

Cacil shareholders approve merger with Phillips Carbon Black

The shareholders of Carbon and Chemicals (Cacil) have approved the company's merger with Phillips Carbon Black (PCBL). PCBL shareholders had already endorsed the merger at a meeting on August 1. With this, all the formalities for the merger of the two companies have been completed.

Duff & Phelps assigns investment grade rating to India

Duff & Phelps Credit Rating Co has assigned an investment grade rating to India's foreign exchange obligations. The sovereign rating of BBB minus, which is at par with the Baa3 rating assigned by Moody's Investor Services, places India at a comfortable position as an investment destination.

Unit Trust to take second look at Asian Paints holdings

The Unit Trust of India (UTI) will re-evaluate its investment in Asian Paints following the sale of shares belonging to the Choksey family to ICI Plc. Of the 11.55% institutional holding, UTI accounts for 9.82%, representing the largest institutional block of shares.

Anti-dumping cell awaits Essar Steel data to decide duty

Escotel Mobile raises loans