CORPORATE
CREDIT RATING
S&P reaffirms `BB' rating for IOC
INTERNATIONAL ratings agency S&P has reaffirmed the `BB' long-term foreign currency credit rating for Indian Oil Corporation Ltd. IOC's credit rating remains constrained by the foreign currency sovereign credit risk assigned to India, a news ...
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RESTRUCTURING
Nagarjuna Fertilizers cuts interest burden by Rs 114 cr
NAGARJUNA Fertilizers and Chemicals Ltd (NFCL), engaged in the production of urea, has reduced its interest burden by Rs 114 crore per annum by restructuring its debt and interest profile. NFCL, which has a consortium of 39 lenders, has ...
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NEW PROJECTS
Nava Bharat Ferro plans expansion
NAVA Bharat Ferro Alloys Ltd has firmed up a Rs 280-million expansion plan for its ferro alloy plant at Paloncha in Khammam district of Andhra Pradesh. In a notice to the Bombay Stock Exchange (BSE) on Friday, the company said it has undertaken ...
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REGULATORY BODIES & RULINGS
Ambuja Cements (Eastern) out of BIFR purview
AMBUJA Cements (Eastern) Ltd (ACEL), a subsidiary of cement major Gujarat Ambuja Cements Ltd (GACL), has succeeded in coming out of the Board for Industrial and Financial Reconstruction (BIFR) fold. At a recent hearing, the bench considered ...
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DIVERSIFICATION
Louis Philippe set for a `fragrant' foray
THE premium apparel brand from the stable of Madura Garments, Louis Philippe, is likely to expand its portfolio into the fragrance business in the near future. The brand, which is the largest premium shirt and trouser brand in value and ...
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STANDARDS & BENCHMARKS
Parryware units get ISO certification
EID Parry (India) Ltd's sanitary ware manufacturing plants at Ranipet, Alwar and Dewas have been given the ISO 14001: 1996 Environment Management system certifications by the British Standards Institute. According to a press release, the ...
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SHAREHOLDER ACTIVISM
Court hearing on L&T demerger to continue next week
THE court hearing on Larsen & Toubro's demerger plan for its cement division will continue into the next week, the extension being on account of two shareholder objections to its scheme of arrangement for the plan and the subsequent arguments and
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