Bharat Heavy Electricals Ltd. (BHEL) said that its Board of Directors will meet on March 15, inter alia, to consider the report of the consultant regarding formation of a Non-Banking Finance Company (NBFC).
The state-run engineering giant plans to float a non-banking financial company (NBFC) to finance power projects, Chairman and Managing Director B Prasada Rao was quoted as saying in January.
The company has appointed CRISIL to examine the proposal, Rao had said.
“For now, we are looking at only power projects. If we find scope for others, including equipment financing, we will look into it. We will take a final call after we receive the report,” Rao had said.
BHEL shares slid Rs. 74.50, or 3.6% today to end at Rs. 1,974 on the BSE after touching a day's low of Rs. 1,966 and a day's high of Rs. 2,044. More than two lakh shares changed hands on the BHEL counter.
ref:
http://www.indiainfoline.com/Markets/News/BHEL-to-mull-NBFC-plan-on-March-15/5103679581
Friday, March 11, 2011
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