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In accordance with the terms and conditions of the loan restructuring done with State Bank of India and IDBI Bank, Sundaram Multi Pap has pledged 100 per cent equity share capital of its wholly owned subsidiary E-class Education System with SBICAP Trustee Company. The total equity share capital of E-class Education is ₹15 crore. The stock of Sundaram Multi Pap tumbled 2 per cent at ₹2.35 on the NSE.
The board of directors of FDC will meet on May 6 to consider and approve the notice of postal ballot and court-convened meeting for the proposed amalgamation. The company plans to amalgamate Soven Trading and Investment Company Pvt Ltd, Sudipta Trading and Investment Company Pvt Ltd, Transgene Trading and Investment Company Pvt Ltd and Anand Synthochem with itself. The stock of FDC closed a tad higher at ₹153.2 on the NSE.
SPML Infra has taken green initiatives by installing a solar power generation plant at its Gurgaon headquarters. The generation capacity of 21 kW will help SPML save more than 27,000 units of electricity annually while the carbon footprint will be reduced by 43,800 lbs/year. The company claims it is the first office tower in Gurgaon to have a solar rooftop system generating 21 kW power, thus significantly saving on electricity consumption. Shares of SPML Infra slipped 0.5 per cent at ₹73.55 on the NSE.
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