Tuesday, August 1, 2000
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IT Update

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Godrej Soaps plans to spin off consumer products division

In a major restructuring initiative aimed at unlocking shareholder value by becoming a focussed FMCG company, the Rs 695-crore Godrej Soaps on Monday announced its decision to demerge the consumer products division into a new company.

Godrej Soaps to sell part-stake in Sara Lee

As part of its second restructuring initiative to reduce debt, Godrej Soaps announced that it is selling off part of its holding in the Rs 276 crore Godrej Sara Lee Ltd (GSLL) to the public. As a result of this, GSLL will become a listed company.

VSNL to list on NYSE on Aug 15

Videsh Sanchar Nigam Ltd has decided to list its American Depository Receipts (ADRs) on August 15 at the New York Stock Exchange. The state-run VSNL is the first public sector undertaking (PSU) in the country to list its shares on the American bourse.

IA calls bids for 40 planes worth Rs 9,000 crore

Indian Airlines has invited financial bids from US aircraft manufacturer Boeing and European consortium Airbus Industrie for purchase of up to 40 planes, costing around Rs 9,000 crore.

Sebi exempts Glaxo SmithKline from public offer

Securities and Exchange Board of India (Sebi) has granted exemption to Glaxo SmithKline Plc from making a public offer for the transfer of control from "single to joint".

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Executive Briefings

bullet.jpg (687 bytes) MRPL, KPC to sign MoU for downstream sector

bullet.jpg (687 bytes) IOC net falls 21% to Rs 509 crore, BPCL's falls 7% to Rs 187 crore

bullet.jpg (687 bytes) Dabur net profit jumps 35 per cent to Rs 7.16 crore in first-quarter

bullet.jpg (687 bytes) Sensex marginally up 3 points in weak trade; IT scrips hammered

bullet.jpg (687 bytes) Exim Bank ties up with West LB for factoring, forfeiting services

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