Sunday, March 21, 1999
Dunlop MD quits for `failure'
P J Rao, managing director of the M R Chhabria-controlled ailing tyre company Dunlop India, has resigned for his failure to "work out a plan of action and restart operations at the factory within six months" from the time of referral of the company to BIFR.
Badla skyrockets to 51 per cent on BSE
Carryforward rates (badla) on the Bombay Stock Exchange (BSE) zoomed to a high of a little over 51% before stabilising in the band of 40.2 % to 41.7 % annualised. According to brokers, stray trades were established even at a high of 70 %.
HC raps Philips for unit sale to Videocon
The Calcutta High Court had rapped the management of Philips India Ltd on several counts while confirming an interim stay on the company's deal to sell its colour televisions factory at Calcutta to Videocon International.
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