The board of Chambal Fertilisers and Chemicals approved the demerger of its shipping business to a subsidiary India Steamship. In March 2011, the company had announced its intention to restructure the shipping business and has now formalised the structure.
demerger
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Filed under: Cement, Companies, Top News, Aditya Birla, demerger, Grasim Industries, M&A, Ultratech Cement
Nicholas Piramal’s lowers risk by transferring out new drug research
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Nicholas Piramal India’s share price is up by 16% over a week, closing today at Rs 288. Its decision to float a separate company, to which it will transfer its new drug research business, and list it on the bourses is behind this excitement.