Business - Briefly   

Sanmar group sheds stake in India Cements

CHENNAI: N. Sankar-led Sanmar group has decided to further shed its holdings in India Cements Ltd. Three investment arms of brothers N. Srinivasan and N. Ramachandran will buy 80 lakh shares of the company from Stargate Investments Ltd., an investment company that belongs to Mr. Sankar and family.

The buying will be done in two phases — one on March 3 and another on March 10. Following this, the holding of Mr. Srinivasan and his family will increase to 27.34 per cent while that of the Sanmar group will come down to 3.61 per cent.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

India to take part in Future Gen project
CEOs forum moots $5 b fund
India, U.S. tie-up in oil, coal and nuclear energy
Sensex touches 10,700-mark
China's airport building gathers pace
Peru seeks GI protection for Pisco in India
Xilinx to expand Hyderabad centre
Aircel applies for 8 new circles
Joint S&T fund proposed
Telecom industry hails verdict
Rupee edges down
Online trading in copra soon
Handmade soap industry seeks excise exemption
Exchange Rates
Bullion Rates
RCoVL to start trading on March 6
IOC parts with GAIL stake
More banks can import gold
Hyundai reduces car prices
UAE bank applies for new branches
Pfizer announces 100 per cent dividend
FHCL launches `Alive' filter coffee powder
Sanmar group sheds stake in India Cements
HCL Tech ties up with Cisco
L&T, Lurgi, KQKS consortium bags $345 m order
Gillette India pays Rs. 10 per share

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu