Comments
The board of directors of Nitin Fire Protection Industries on Tuesday recommended an issue of bonus shares in the proportion of 1:3 (one bonus share for every three existing fully paid-up equity shares held). The board also plans to open branch offices at Bangalore and Lucknow. Shares of Nitin Fire edged up one per cent at ₹69.8 on the BSE.
The board of directors of Aditya Birla Nuvo has set its stamp of approval on the redemption of 10,000 (6 per cent) redeemable cumulative preference shares of ₹100 each. The shares were redeemed on September 29, out of the profits of the company. An interim dividend of ₹29,918 has been declared and paid on these preference shares for FY2014-15, the company said in a notification to the exchanges. AB Nuvo shares closed at ₹1,618.9, down 1.4 per cent on the NSE.
MindaCorporation has informed the exchanges that it has purchased two per cent equity in Minda Furukawa Electric Pvt Ltd from its joint venture partner Furukawa Group of Japan, according to an earlier agreement. Following the deal, the shareholding of the company in Minda Furukawa Electric Pvt Ltd will increase to 51 per cent from October 1. With this, Minda Corporation will gain management control in the joint venture. Shares of Minda Corporation gained 1.9 per cent at ₹540 on the NSE
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.