Tuesday, June 2, 1998
Reliance, Bombay Dyeing are main gainers from paraxylene duty cut
Reliance and Bombay Dyeing will be major beneficiaries with the customs duty on paraxylene, raw material for DMT and PTA, being reduced to 5% from 15%. Corporates engaged in the manufacture of nylon filament yarn are expected to get a fillip.
Tata Chem, Indo-Gulf Fertiliser will now have to sell urea at higher prices
Tata Chemicals and Indo-Gulf Fertiliser, two major private-sector urea manufacturers, are the ones to watch after finance minister Yashwant Sinha hiked urea prices substantially, by Rs 1,000 per tonne.
SEBI dismisses Alcan's complaints against Sterlite open offer for Indal
The SEBI has rejected Alcan's complaints against Sterlite's open offer to shareholders of Indal. This is likely to pave the way for financial institutions' decision to offload their holdings in favour of Sterlite.
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