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The board of directors of Indian Hotels Company has approved the proposal for delisting of its Global Depository Receipts from the London Stock Exchange. The nod is however, subject to receipt of requisite approvals from concerned agencies and other regulatory authorities as well as necessary filings with the relevant stock exchanges as may be necessary, Indian Hotels informed the exchanges. Shares of Indian Hotels closed at ₹103.85, up 0.6 per cent on the BSE.
The board of HB Stockholdings on Thursday discussed various options for re-alignment/ restructuring the company’s business activities. The proposal includes a scheme of arrangement between the company, HB Portfolio and HB Estate Developers. This will be subject to the approval of the board of directors of the respective companies and such other statutory approvals that may be required, the company said in a stock exchange notification. The board has also authorised the appointment of Chartered Accountants, valuers, solicitors, advocates, merchant bankers and such other experts as may be required to carry out the exercise. The stock slipped 2.8 per cent at ₹10.40 on the NSE.
The board of directors of Pioneer Embroideries has approved the allotment of 8.50 lakh equity shares of face value ₹10 each at a premium of ₹25 a share to Edelweiss Asset Reconstruction Company on preferential basis. The stock of Pioneer Embroideries surged 3.9 per cent at ₹42.40 on the BSE.
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