Ultratech Cement's acquisition of a 23 per cent stake in Tamil Nadu-based India Cements is another instance of growing consolidation in the cement market in India. The deal will raise Ultratech's share, based on India Cements' revenues in FY24, in the domestic market by 230 basis points if the latter is formally acquired by the former in due course. India Cements' share was up 11.5 per cent on Thursday on market expectations of an open offer.
Century Textiles & Industries Ltd named Raghu Palat a nominee director on behalf of Unit Trust of India. He replaces A P Kurian.
Century Textiles Q3 results on Jan 28, 2003
Century Textiles & Industries Ltd has posted a net profit of Rs 187.10 million for the quarter ended December 31, 2002 as compared to a net loss of Rs 44 million in the quarter ended December 31,2001.
Large retailers are allegedly importing apparel made of Chinese fabric from Bangladesh at nil duty, under our free trade agreement with the latter country. However, the same agreement does not permit duty-free export from here.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Birla Corporation has grown from a Rs 1,763-crore company to Rs 3,200 crore; profitability, however, has suffered due to the slowdown.