I have Jp hydro power 400 Shares.Can I sale or Hold it?
ET 19 Feb, 2008, 0000 hrs IST,Rakhi Mazumdar, TNN
KOLKATA: India Foils (IFL) is set to become a subsidiary of Ess Dee Aluminium within the next three months. Post acquisition, which is subject to the BIFR approvals, the IFL brand name will be retained and the company re-christened Ess Dee India Foils. Ess Dee Aluminium on Monday announced that it has signed an agreement with Madras Aluminium Company (Malco) for rehabilitation of IFL. Malco, a part of the Anil Agarwal-controlled Vedanta group, holds 39% stake in IFL. ET was the first to report on Ess Dees acquisition of IFL in its February 18 edition.
We hope to get all necessary approvals from BIFR within the next three months. Our target is to start our operations within two of the three units of IFL by July, Sudip Dutta, chairman and managing director, Ess Dee Aluminium, told ET. We want to revive IFLs Hoara plant by investing around Rs 40 crore. I am certain it can be turne ...more