Financial Daily
from THE HINDU group of publications
Saturday, June 24, 2000
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Financial Daily from THE HINDU group of publications Saturday, June 24, 2000 |
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Gujarat Ambuja Cements: Seeking cash
THE proposal of Gujarat Ambuja Cements to sell some of its investments may augur well for its cash flows even as it has just completed the acquisition of DLF Cements (now Ambuja Cement Rajasthan) and the strategic stake in ACC. Since the company
has taken debt to bankroll these acquisitions, any cash flows that could reduce the debt burden may prove beneficial. In this context, the move of Gujarat Ambuja to sell its holdings in GRUH Finance and Hometrust Housing Finance Co (a group company
) may be viewed favourably by the markets. The board of directors is to meet on June 27 to consider the sale. The Gujarat Ambuja stock may be on firm ground. -- BL Research Bureau
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