Financial Daily
from THE HINDU group of publications
Friday, January 05, 2001
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Financial Daily from THE HINDU group of publications Friday, January 05, 2001 |
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Binani Ind: Spoke in the wheel
THE Binani Industries' stock could be gripped by uncertainty as its restructuring plans run into a block. The company had proposed to hive off its zinc business to Binani Zinc and a swap ratio of one share of the latter for every five shares in Binani In
dustries had been announced. But Industrial Development Bank of India (IDBI), as the major secured lender to the company, has not accorded its approval to the proposed scheme of arrangement. In the wake of this development, the uncertainty factor may cas
t a shadow on the stock price. It may at best be range-bound at around the current price levels. -- BL Research Bureau
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