The Telegraph
Since 1st March, 1999
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Business Briefs

Lever extends lockout

Calcutta, June 12: The management of Hindustan Lever Limited (HLL) today decided to extend the lock-out at its Garden Reach factory by another six weeks till July 26, a company official said. The regional manager (HR-east), P. K. Chatterjee, said that the workers, affiliated to Hindustan Lever Shramik Karmachari Congress, “have not removed the causes responsible for closure of the plant.”

Duncan assets

Calcutta, June 12: The Calcutta High Court has directed Duncan Industries not to transfer its fixed assets without the court’s consent. Bimal Dey and 74 other depositors, who have not got back their money from the company, had appealed to the court to ask the company to furnish particulars of the assets and properties which they alleged it had sold without informing depositors and shareholders.

L&T demerger

Mumbai, June 12: The Larsen and Toubro (L&T) board will meet on Saturday, June 14, to discuss the restructuring of its cement business, company sources said here today.

HDFC stake

Mumbai, June 12: Housing Development Finance Corporation Ltd (HDFC) has sold 10 per cent stake in its subsidiary, HDFC Asset Management Company Ltd (HDFC AMC), to Standard Life Investment Ltd for Rs 34 crore.

Rupee surges

Mumbai, June 12: Maintaining a firm trend, the rupee scaled yet another 26-month peak against the dollar today, helped by regular flow of dollars from export proceeds and inward remittances, despite sporadic dollar demand from state-run banks, containing its rise.

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