Dunlop India to Relist on Stock Exchange
Dunlop India intends to relist its shares on the Bombay Stock Exchange in the next 10-15 days, reported Reuters on December 4, quoting Ruia Group chairman Pawan Kumar Ruia. "In the next 10-15 days of time the permission will be given to deal or trade in the shares in which trading was suspended in 2002," said Ruia, adding that 45 million shares held by the company in 2002 will be allowed to trade. According to Ruia, the company anticipates an Rs 7 to 8 billion (£91 million to £104 million) turnover in the 2011 financial year.
Thanks to increasing natural rubber costs, prices are also on the rise at Dunlop India. “In our total raw material consumption 50 per cent is rubber and prices of natural rubber have more than doubled in the past year. We are planning a hike of 3-8 per cent across product categories going ahead,” Ruia said.