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Gabriel India on Friday informed the exchanges that it has signed a technology licence agreement with Koni BV, for making suspension systems used in commercial vehicles, buses and industrial equipment in India. The pact will enable Gabriel to sell suspension products for long-haulage, high-tonnage vehicles. Koni, part of US-based specialty equipment manufacturer ITT Corp, will provide the technology that will enable Gabriel India to manufacture damper products for original equipment makers in India, Bangladesh, Sri Lanka, Nepal and Bhutan. Shares of Gabriel India surged 4 per cent to ₹95.6 on the BSE.
Golden Goenka Fincorp has informed the exchanges that it has redeemed five lakh 12.75 per cent rated, secured, taxable redeemable, non-convertible debentures (NCDs) of ₹1,000 each in full along with the interest accrued thereon up to the date of redemption. The company, on June 17, received approval from the holders to redeem the NCDs before the scheduled redemption date of March 6, 2017. Golden Goenka shares closed at ₹7.7, down 4 per cent on the BSE.
The board of directors of RS Software (India) on Friday approved sub-division of the face value of the company’s equity shares. The face value of the shares will now be revised to ₹5 each as against ₹10 each now, which means two equity shares of ₹5 each will be issued in lieu of one equity share of ₹10. The stock of RS Software tumbled 3.97 per cent at ₹641.05 on the NSE.
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