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The boards of Bhagyanagar India and Surana Telecom and Power , in separate meetings, have decided to seek the approval of the respective public shareholders of the companies for a scheme of amalgamation. The companies will seek their approval through postal ballot and e-voting for a scheme of arrangement between Bhagyanagar India, Surana Telecom and Power and Bhagyanagar Properties Pvt Ltd and their respective shareholders and creditors. Accordingly to a proposal, Bhagyanagar India will demerge its solar business and merge with Surana Telecom and Power and the real estate business with Bhagyanagar Properties. Shares of Bhagyanagar India edged down 0.88 per cent while those of Surana Telecom slumped 4.45 per cent at ₹4.94 on the BSE.
Chartered Logistics has secured a new contract worth ₹10 crore from ITC, to be executed in one year. The company has also received an additional contract worth ₹10 crore from Hindalco Industries. The other top clients of the company include HUL, Reliance Retail, Ambuja Cement, Tata Chemicals, JSW Cement, and Finolex Industries. In a release to the exchanges, the company said that together these clients contribute 75 per cent of its overall turnover. Shares of Chartered Logistics, earlier known as Chartered Carriers, jumped 4.74 per cent at ₹19.9 on the BSE.
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