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Gail (India) has informed the exchanges that its board of directors could not take up a proposal to approve payment of interim dividend for FY2014-15. Hence, the record date stands withdrawn, the company said in a statement. Earlier, the company had fixed February 11 as record date for the proposed payout. Shares of Gail India closed at ₹419.95, down 0.97 per cent on the BSE.
Sutlej Textiles and Industries has informed the exchanges that the company is looking for growth in its yarn manufacturing capacity (which currently stands at 2,93,544 spindles) through organic as well as inorganic means. “In order to effectively expand the company’s spinning capacity in reasonable time, the company shall also look at acquisition opportunities, with appropriate economic and cultural fit,” it said in a statement to the exchanges. For this purpose, the company has constituted an empowered committee of its directors. Shares of Sutlej Textiles tumbled 4 per cent at ₹338.10 on the NSE.
The board of Balasore Alloys on Friday approved an issue of up to 80 lakh convertible equity warrants of ₹5 each to the promoter group of companies on preferential basis. The funds raised will be used for the purpose of funding growth and modernisation projects to be undertaken by the company. However, the issue is subject to necessary statutory compliances/ approvals. The stock of Balasore edged down 3.6 per cent at ₹17.35 on the BSE.
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