Financial Daily
from THE HINDU group of publications
Thursday, August 03, 2000
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Financial Daily from THE HINDU group of publications Thursday, August 03, 2000 |
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India Gypsum: Unlikely to stall
THE clearance likely to be secured by the global parent to hike its stake in India Gypsum may not improve market sentiment for the stock.
The board of directors has decided to give a no-objection certificate for the proposed application of BPB Holdings India Pvt Ltd to hike the stake to a level not exceeding 80 per cent of equity. Currently, the global parent holds around 74 per cent. The
additional equity stake is to be acquired from the co-promoter, Hyderabad Industries. This development may have no significant influence on the trends in the stock price which is down by more than 50 per cent from highs of Rs. 60 touched earlier in the c
alendar year. -- BL Research Bureau
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