Listed entity norms
New Delhi, Sept. 28: The finance ministry is likely to take a call soon on its proposal to make it mandatory for listed companies to have at least 25 per cent of their total paid-up capital as public holding. “In the next few days, we are likely to decide on the issue,” finance ministry sources said. Analysts said most of the companies forming part of the sensex would fail the 25-per-cent public shareholding test.
London, Sept. 28: Jaguar Land Rover, of the Tata group, has announced a series of production cutbacks to match supply with demand. The night shift at Land Rover’s Solihull plant has been withdrawn and is unlikely to be reinstated before the end of the year.
Mumbai, Sept. 28: While allowing telecom software services firm Sasken to go ahead with its Rs 40-crore buyback offer, Securities Appellate Tribunal has said market regulator Sebi has no right to advise a company regarding the price it needs to put for the buyback offer.
New Delhi, Sept. 28: NMDC Ltd is likely to negotiate the long-term contract prices of its iron ore exported to foreign steel makers this week. “An Indian delegation will leave for Japan and Korea on September 29 to finalise the price and quantity of ore to be supplied to the steel mills there,” a government official said.
New Delhi, Sept. 28: The MRTPC has directed its investigative unit to look into the trading pattern of the flat glass industry and also the role of the All India Flat Glass Manufacturing Association for suspected cartelisation and price rigging.