Andrew Yule up on privatisation buzz

DALAL STREET SPIKES

The stock of Kolkata-based Andrew Yule Company rose about 4 per cent from its previous close of Rs 25.95 to Rs 27, albeit over low margins.

The jump followed the February 22 cabinet decision to hive off the electrical and engineering divisions of the company into two separate subsidiaries "� Yule Engineering and Yule Electrical.

In addition, the government will also infuse Rs 87 crore into the company as equity. Further, the cabinet approved disinvestment in Andrew Yule's three subsidiaries "� Phoenix Yule, Tide Water Oil and Dishergarh Power.