Thursday, December 3, 1998
India Cements plans to put non-core businesses on block; slash work force
India Cements, which stunned corporate India with a daring takeover of Raasi Cement, is now shoring up its own end through a proposed sale of stake in all non-core businesses, including ceramics, paper and sugar, as well as through a slashing of workforce by a whopping 1,100 employees.
Lever moves court against part appellate authority order
Hindustan Lever Ltd (HLL) has filed a counter petition before the Mumbai high court against parts of the appellate authority order on the insider-trading case. The appellate authority had, in its order of July 14, exonerated HLL of charges of insider trading by setting aside the Sebi order.
US-64 depreciation figure just notional, says Yashwant Sinha
Finance minister Yashwant Sinha today said the depreciation to the tune of Rs 3,566 crore in the value of investments which was reflected in the balance sheet of US-64 is notional and `as and when the stock market prices improve this ''notional depreciation' would be recouped.
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