NAHAR GROUP: SPINNING A YARN
Article Abstract:
The Nahar group of Ludhiana has failed to meet the projections made at the time of its rights issue. The group comprises the flagship, Nahar Spinning Mills Ltd (NSML), Nahar Industrial Enterprises Ltd (NIEL), Nahar Exports Ltd (NEL), Nahar Sugar and Allied Industries Ltd (NSAIL) and Nahar Fibres Ltd (NFL). The group had collected over Rs4.25 billion from investors through public issues but nearly two-thirds of this investment has been eroded. A major portion of the shareholders money has been used to subscribe to the issues of the other companies of the group. Nearly Rs3.04 billion has been invested in inter-company holdings as on March 1997. The six public companies of the Nahar group raised Rs4,262 million from investors between 1975 and 1996. This is now worth only Rs1,370 million which works out to a capital loss of 68 percent. For 1997-98, only NIEL, NEL, NFL, and NSML maintained the dividend while NSAIL and NIL did not offer dividend. (vv) --------------------------------------------------------- Funds Mobilised by the Nahar Group as on March 31, 1997 (Rs in million) --------------------------------------------------------- Particulars Equity Loan Raised Funds Total --------------------------------------------------------- Nahar International Ltd 1067.4 1272.0 2339.43 --------------------------------------------------------- Nahar Spinning Mills Ltd 959.3 1380.4 2339.70 --------------------------------------------------------- Nahar Industrial Enterprises Ltd 882.0 356.1 1238.13 --------------------------------------------------------- Nahar Exports 618.3 561.7 1180.03 --------------------------------------------------------- Nahar Sugar & Allied Industries Ltd 220.0 349.1 569.13 --------------------------------------------------------- Nahar Fibres Ltd 514.6 480.0 994.63 --------------------------------------------------------- >EN
Comment:
Fails to meet the projections made at the time of its rights issue with 4 other Nahar firms
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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BPL GROUP: WHAT LIES IN STORE FOR BPL?
Article Abstract:
A study shows that investors have lost almost 29 percent in value on their investments in the BPL group. The five listed companies of the BPL group are BPL Refrigeration Ltd (BRL), BPL Sanyo Technologies Ltd (BSTL), BPL Sanyo Utilities & Appliances Ltd (BSUAL), BPL and BPL Engineering Ltd (BEL). Investors in BSUAL have gained by 26.5 percent while those in BPL have gained by 31.5 percent. Investors in BEL have lost about 90 percent, BRL 80 percent and BSTL 20 percent. (khr) >EN
Comment:
Study shows that investors have lost almost 29% in value on their investments in the group
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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