Nirma plans delisting

Nirma plans delistingAccording to a proposal received from Karsanbhai K. Patel, Shantabcn K. Patel and Kulgam Holdings Private Limited, the promoters of Nirma, the company is planning to delist its shares from the Bombay Stock Exchange and National Stock Exchange of India Limited.

It is to be mentioned here that the decision on the same was finalized on the board meeting that held on the 9th of October. Under the decision taken by the company, the promoters of Nirma will acquire the equity shares held by public shareholders in the Company pursuant to and in accordance with the Securities and Exchange Board of India.

HC rejects assessment appeal versus Nirma plant

HC rejects assessment appeal versus Nirma plantOn Monday the Gujarat High Court dismissed the assessment appeal reported by a set of farmers viz-a-viz the court judgment provided green signal to Nirma Ltd to build a cement plant all along the coastline Mahuva's.

The petition filed under the PIL in the high court by Shree Mahuva Bandhara Khetiwadi Pariyavan Bachav Samittee, has also moved towards the Supreme Court. In the meantime, the farmers also recorded an assessment petition quoting ecological matters that according to them were not considered into contemplation by the high court whilst refusing their PIL.

Nirma net profit dips by 57%

NirmaFMCG manufacturer Nirma has declared its fourth quarter financial results for the fiscal year 2009-10 and it has informed to have a decline in its net profit figure.

The company has posted a consolidated net profit of Rs 25.99 crore for the quarter that ended in 31st March, 2010. This net profit figure has grown up by 57% in this quarter as compared to the same quarter in the last fiscal. This has been informed by the firm in a filing at the Bombay Stock Exchange.

HC allows Nirma plant to be set up in Gujarat

NirmaOn Monday, the Gujarat High Court gave a clean chit to Nirma for setting up its plant at Mahua near Bhavnagar. The total cost of the plant is Rs. 1,400 crore and will be for manufacturing cement.

Nirma is into the business of detergent making and the plant was under threat after farmers opposed its setting up. They said that the plant was harming the environment of the region. And since it has a water body, the plant will impact the source of water and affect the environment adversely.

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