Friday, December 4, 1998
Tatas to raise stake in ACC via warrant issue
In a sudden and surprise move aimed at increasing the stake of the Tatas, the board of cement major ACC has decided to meet on Dec 8 to consider a rights issue to the shareholders and a preference issue of warrants to its existing promoters (the Tatas).
Mafatlal sells unit to Kanwar
Mafatlal Industries Ltd (MIL) and Associates on Thursday signed an agreement with Onkar S Kanwar group - which runs Apollo Tyres - to divest their stake in the rubber chemicals division of Nocil for a consideration of Rs 55 crore.
Kotak launches 2 MF schemes
The Kotak Mahindra Asset Management Company (KMAMC) has launched its two maiden mutual fund schemes, the KGilt and K-30, which will open for public subscription from December 11-21.
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