The company will look for other lines of business for Balmer Lawrie UK, a fully-owned subsidiary of BLC. "Retaining the subsidiary would help in our overseas operations. We would focus on speciality containers here in India through our logistics subsidiary Transafe Services Limited," said V Narayan Sharma, director, BLC. Sharma also said the company was open to overseas acquisitions to add a new line of business.
Differences have once again surfaced between the ministries of divestment and petroleum over the sale of government equity in public sector oil company Balmer Lawrie.\n\n\n\n
Balmer Lawrie Van Leer Ltd said Fitch India Ratings has awarded F1 to the company for raising of short term funds through a Rs 50-million commercial paper.
The government is going ahead with divestment of Balmer Lawrie & Company with the asset valuers Dalal Mott McDonalds slated to submit its report to the divestment ministry in the coming weeks.
Balmer Lawrie & Company, whose 61.97 per cent stake is slated to be divested by the Centre, is unlikely to be sold off during the current fiscal.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA). The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off. Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys, Cipla, and Adani Enterprises are the only stocks from the Nifty50 pack that are still below their respective 200-DMA, the exchange data suggests.
Former NSE managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and group operating officer and her advisor Anand Subramanian ran a 'money-making scheme' during their stint at the National Stock Exchange (NSE), markets regulator Securities and Exchange Board of India (Sebi) has alleged. The order passed by Sebi dated February 11 highlights frequent increase in the compensation package of without proper appraisal, documentation or file notings, and the involvement of the human resource (HR) head or the nomination and remuneration committee. Furthermore, the order talks about Subramanian being directed to "withdraw and surrender" to the unknown person a gross amount per month as "gratitude".
Ramkrishna gave 'frequent, arbitrary and disproportionate' increase in compensation to Subramanian when there was no evidence of any performance evaluation being done for him and nor was there any evidence to satisfy the rating of A+ given to him for giving such high increment.
The company ended a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August.
BSE revised special margin on 37 scrips including Anil Pesticides, Arvind Remedies and Balmer Lawrie.\n\n
Terming the incident unfortunate, the national carrier Air India has tendered an apology to the Indian table tennis team, who were denied boarding on the Delhi-Melbourne flight on Sunday.
The Indian contingent, comprising 17 players and officials, is scheduled to participate at the ITTF World Tour Australian Open starting in Melbourne on Monday.
Nearly 55,000 officers of 14 public sector oil companies have decided to strike work indefinitely from January 7 to seek higher wages, Association of Scientific & Technical Officer's vice president P K Sharma said in New Delhi on Tuesday
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