March 4, 2015:
Ethiopian Investment Agency, Ethiopia, has granted capital registration to Kadisco Paint and Adhesive Industry Share Company. Earlier, Asian Paints' indirect subsidiary Berger International Ltd, Singapore, had acquired 51 per cent stake in February in Kadisco. Shares of Asian Paints edged down 0.35 per cent at ₹835.
Nitesh Estates on Wednesday said it can “neither deny nor confirm” a news report on whether it had inked a joint venture with Goldman Sachs. “The company is in the midst of two large transactions, and is governed by the non-disclosure clause,” it said in a clarification to the stock exchanges. According to the report, Goldman will invest $300 million for a 74 per cent stake in a joint venture. The remaining 26 per cent will be held by the Bengaluru-based real estate developer. Shares of Nitesh Estates hit the 20 per cent upper circuit to close at ₹12.45 on the NSE.
Gokak Textiles informed the BSE that it has been implementing certain business strategies such as reorganisation of its business divisions, productivity improvement and cost reduction measures, among others. The impact of these measures is expected to be felt over the next few months. Due to this, the board of the company on Wednesday approved continuation of its financial year till September 30, 2015. Accordingly, the current financial year of the company will be from October 1, 2014 to September 30, 2015. Earlier, in August the board had decided to change the financial year for a period of six months from October 1, 2014 to March 31, 2015. Shares of Gokak Textiles tumbled 4 per cent at ₹60.25 on the BSE.
(This article was published on March 4, 2015)
Source: thehindubusinessline.com
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