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Raasi promoters to oppose ICL bid
Family patriarch and promoter of Raasi Cements Ltd (RCL), Dr B V Raju who had promised in December a "fight to the finish" in the event of a hostile bid on the company got together his war council for an extended strategy session on Friday in the wake of the latest bid by India Cements Ltd (ICL).
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Parvinder sells off 7% Ranbaxy stake
The promoter of Ranbaxy Laboratories, Parvinder Singh, has sold around 20 lakh equity shares of the company at a price of Rs 650 per share. Over a dozen foreign institutional investors (FIIs) have picked up these shares in a deal struck by JM Financial and Morgan Stanley.
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CBI arrests ex-MD of Orson Electronics
Former MD of Orson Electronics and an associate of Manu Chhabria, Shyam Bhatia, was today arrested by the Central Bureau of Investigation after the Sessions Court rejected his anticipatory bail application.
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Sandvik AB open offer gets 90% subscription
The open offer made by Sandvik AB of Sweden to acquire an additional stake of 20.41 per cent in its subsidiary, Sandvik Asia Ltd (SAL), has met with over 90 per cent success.
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