Nalco selloff by February
New Delhi, Sept. 30: The government is likely to complete the three-stage disinvestment of National Aluminium Company (Nalco) by February 2003. As many as 15 players including Birla group promoted Hindalco Industries, Sterlite Industries, Switzerland-based Glencore, BHP-Billiton of Australia are understood to be in the fray. The government proposes to dilute 60 per cent stake in the company through a combination of strategic sale, American depository receipt (ADR) and domestic issue.
New Delhi, Sept. 30: Steel Authority of India Limited (SAIL) director (finance) V. S. Jain today took over as the chairman of the company from outgoing chairman Arvind Pande.
Calcutta, Sept. 30: The Mumbai police have informed their counterparts in Calcutta that Raj Kumar Patni and Gopal Singhania, both associates of Dinesh Kumar Singhania, were wanted in cases being investigated by them.
Mumbai, Sept. 30: Indian Oil Corporation (IOC) is awaiting the government’s nod for a proposal to sell part of its equity holding in Gail and Oil and Natural Gas Corporation to enable it to reduce its debt burden even as it was planning investments worth Rs 30,000 crore during the Tenth Five Year Plan
New Delhi, Sept. 30: Krishak Bharati Co-operative Limited (Kribhco) posted a net profit of Rs 187.33 crore during 2001-02.