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Aditya Birla Nuvo Ltd has completed the sale of subsidiary Aditya Birla Minacs Worldwide Ltd to a group of financial investors led by CX Partners and Capital Square Partners, the company said in a release to the exchanges on Friday. Shares of Aditya Birla Nuvo gained 1.82 per cent at ₹1,109.20 on the NSE.
Gulf Oil Corp has received approval from the Andhra Pradesh High Court to demerge and transfer its lubricants business to wholly owned subsidiary Gulf Oil Lubricants India Ltd. Shareholders of Gulf Oil Corp will get one share each in Gulf Oil Corp and Gulf Oil Lubricants. The record date will soon be announced. Gulf Oil Lubricants will be listed on the NSE and the BSE after completion of legal formalities. Shares of Gulf Oil Corp closed at ₹130.95 on the NSE, up 8.1 per cent from the previous close.
The board of directors of Wintac Ltd on Friday approved the further issue of equity shares on rights issue basis up to ₹35 crore for meeting the capital expenditure and working capital requirements of the company. The issue price, number of shares and ratio of rights issue will be determined in due course in accordance with the applicable regulations and would be communicated to the stock exchanges immediately thereon, Wintac said.
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