Thursday, December 31, 1998
FM to rope in more PSUs for buyback
Following the failure of the disinvestment programme, the finance minister is firming up proposals to prompt at least six cash rich public sector undertakings to buy back their shares and thus help the government to meet the fiscal deficit target.
Govt may sell Maruti stake to FIs
The Centre has initiated a move to sell its 49.5% stake in car-maker Maruti Udyog. The proposal envisages warehousing the government's stock with banks and financial institutions. The stake will later be offloaded through a strategic sale.
Shareholders vote on Herbertsons' control
The battle for control of Rs 224 crore-Herbertsons Ltd was sealed in ballot boxes on Wednesday as shareholders cast their votes over resolutions moved by vice chairman Kishore Chhabria to oust the company's chairman and managing director Vijay Mallya and his six directors.
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