Companies & Sectors
BSE to exclude Deccan Chronicle Holdings from BSE-500

The NSE has already decided to suspend the trading in shares of DCHL from 23rd January, as the company failed to submit financial results and shareholding pattern data

 

Mumbai: BSE (Bombay Stock Exchange) has decided to exclude Deccan Chronicle Holdings from the BSE-500 index, reports PTI.

 

The exchange has decided to exclude Deccan Chronicle Holdings and include Bharti Infratel in BSE-500 effective from 21st January, the stock exchange said in a statement here.

 

The National Stock Exchange (NSE) has already decided to suspend the trading in shares of DCHL from 23rd January, as the company failed to submit financial results and shareholding pattern data.

 

The NSE said in a circular that the reasons for suspension include non-compliance with certain provisions of listing agreement such as non-submission of shareholding pattern, corporate governance report, financial results and reconciliation of share capital audit report for July-September 2012 quarter.

 

Shares of Deccan Chronicle Holdings on Wednesday fell by nearly 5% to hit a lower circuit limit on the BSE.

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Heidelberg Cement expands Indian capacity to 5 MTPA

With the commissioning of the new mill that has been funded through mix of internal accruals and debts, the company has increased its all India cement capacity to 5 MTPA, Ashish Guha, CEO and MF, Heidelberg Cement India, said

New Delhi: Expanding cement making capacity in India, Germany's Heidelberg Cement on Wednesday commissioned first phase of its Rs1,400 crore expansion plans, taking its production to 5 million tonnes per annum (MTPA), reports PTI.

 

The leading global cement maker, which had entered into the Indian market by acquiring Mysore Cements in 2006, had 3.1 MTPA capacity before its Jhansi grinding unit in Uttar Pradesh went on stream.

 

The Jhansi unit’s capacity has now gone up to 2.7 MTPA from 0.8 MTPA earlier.

 

“This is the first move towards our expansion plans in Central India. With the commissioning of the new mill that has been funded through mix of internal accruals and debts, the company has increased its all India cement capacity to 5 MTPA,” Ashish Guha, CEO and managing director, Heidelberg Cement India, said.

 

The company is also enhancing capacity in Damoh in Madhya Pradesh to raise the capacity to 6 MTPA, a company source said, adding that the date of commissioning of the project would be announced soon.

 

“Total investment in these two plants amounts to Rs1,400 crore,” the source said.

 

Heidelberg Cement, which mainly caters to the central market and now trying to position its ‘mycem’ brand in other parts of the country, had achieved highest ever cement sales of 2.81 million tonnes in 2011.

 

“We expect cement consumption to grow at a relatively higher rate in central region and stand committed towards bettering the prospects for our stakeholders,” Guha said.

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Maharashtra offers sop to single-screens, rate cap to multiplexes

In a bid to discourage high ticket prices , the Maharashtra government on Wednesday decided to give them a seven-year holiday on entertainment tax, and also set a cap of Rs200 for multiplex tickets

Mumbai: To encourage single-screen theatres in rural area, the Maharashtra government on Wednesday decided to give them a seven-year holiday on entertainment tax, and also set a cap of Rs200 for multiplex tickets, reports PTI.

 

The government also allowed single-screen halls to levy an additional service charge of Rs2 per ticket if they exhibit Marathi films during “prime time”.

 

In a bid to discourage high ticket prices, the government decided to stipulate “a maximum entry charge” of Rs200 in multiplexes and Rs100 in single-screen theatres.

 

The decisions were taken at a meeting of the state cabinet, chaired by chief minister Prithviraj Chavan, here.

 

The government expects that single-screens, which are losing business, will use the tax sop to adopt modern digital technology, an official release said.

 

The government also decided to waive entertainment tax for five years for single-screen theatres in A, B and C category municipal councils.

 

Maharashtra has 81 multiplexes and 549 single-screen theatres, from which the government earned Rs476 crore in revenue last year.

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