Business Daily from THE HINDU group of publications
Tuesday, Feb 10, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Feb 10, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Markets
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Stocks Corporate - Announcements Our Bureau Chennai, Feb. 9 The promoters of India Cements Ltd have pledged 82 per cent of their equity stake, according to information provided by the company to the stock exchange. The announcement does not provide the details of the entities to which the shares are pledged or the reasons. According to the announcement, the promoters and promoter group have pledged over 6.33 crore shares out of their holding of 7.72 crore shares, representing a 27 per cent stake in India Cements. According to a company official, the shares have been pledged in the context of corporate debt restructuring in the previous years when India Cements’ debt had mounted to over Rs 1,800 crore. More Stories on : Stocks | Announcements | Cement
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