Tuesday, October 27, 1998
Buyback paves way for stake hike by MNCs
The introduction of buy-back facility will help foreign companies inch towards a majority holding in their Indian subsidiaries. the foreign partner can also hike the stake without actually bringing in additional funds.
Marketing outlay stains Colgate show; net trips to Rs 18 cr
Colgate-Palmolive (India), which incurred a sharply higher marketing expenditure, has posted a significant 59.49% drop in net profit in the first half of the current fiscal to Rs 17.71 crore from Rs 43.72 crore in the corresponding period last year.
Unit Trust may wash hands off Modi Rubber holding
Unit Trust of India, which holds the single largest block of shares in Modi Rubber, is likely to divest its holding to the firm's promoters at Rs 70 a share. The institution holds 16.87% in Modi Rubber promoted by BK Modi and VK Modi jointly.
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