document.writeln("

IDBI dilutes stake in NFCL
Hyderabad: IDBI has sold 83.59 lakh shares held in Nagarjuna Fertilisers & Chemicals Ltd (NFCL), amounting to 2 per cent of holding.

According to NFCL's communiqué to the stock exchanges, IDBI was holding more than 5 per cent of the shares and voting rights in the company.

IDBI had sold 83,59,469 equity shares of NFCL during in the period January 25 and May 26 this year.
Back to News Review index page  

Electrosteel Castings to raise Rs.225 crore
New Delhi: Electrosteel Castings has said it will raise about Rs225 crore through an issue of Global Depository Receipts for its expansion plans, the company has informed the Bombay Stock Exchange.

The Board of Directors have approved the issue of GDRs, subject to shareholders approval.

The proceeds will be utilized to meet the expansion of ductile iron (DI) pipes production, estimated to cost Rs51 crore, as well as meet the incremental working capital requirement of Rs49 crore.

The balance will be utilized to retire the high cost long-term debt of Rs100 crore, it said.
Back to News Review index page  

HDFC MFs sell 2.3 per cent stake in Century Textiles
Mumbai: The HDFC Asset Management Company (AMC) has said that various HDFC Mutual Fund schemes had sold off a 2.33 per cent stake in Century Textiles & Industries as of May 31, 2005.

As on May 31, 2005, the aggregate holding of the schemes of HDFC Mutual Fund in Century Textiles is 3,684,161 shares aggregating to 3.96% of the paid up equity share capital of the Company, HDFC AMC has informed the National Stock Exchange.

Century Textiles closed at Rs254, up Rs6 or 2.42 per cent with over 8.09 lakh shares traded on this counter on the NSE.
Back to News Review index page