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Shree Rama Newsprint Ltd has informed stock exchanges that the company has temporarily shut its manufacturing operations from November 26 in compliance after an order from the Gujarat Pollution Control Board (GPCB). Meanwhile, the company has taken steps to address the directions of GPCB and hopes to resume the manufacturing operations soon after getting approval from the board. Shares of Shree Rama Newsprint slipped 0.6 per cent to ₹7.75 on the NSE.
Rane Holdings has bought 19.24 per cent in SasMos HET Technologies, maker of interconnection system and wiring harness for defence and aerospace industry, from Netherlands-based Lumipol International BV. Following the acquisition, Rane's holding in Bangalore-based SasMoS increased to 45.24 per cent. The company had made a strategic investment in SasMos during September 2011 by acquiring a 26 per cent stake. Shares of Rane Holdings closed at ₹590, up 0.48 per cent on the NSE.
Subex has allotted 15.987 lakh shares to the foreign currency convertible bondholders after they converted $650,000 bonds. Post the conversion, FCCBs aggregating to $86.5 million are outstanding under the bonds. "Subject to the listing and trading approval of the NSE and the BSE, the paid-up share capital of the company has increased to ₹170.69 crore (₹169,09 crore). Shares of Subex edged up 9.93 per cent at ₹13.06 on the BSE.
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