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Gyscoal Alloys has subscribed to 26 per cent shares of Goldman Hotels and Resorts Private Ltd, which was incorporated on November 4, at ₹26,000 a share. Goldman Hotels is a special purpose vehicle company formed for development, management and operation of Taj Mahal Palace, Bhopal, into a heritage hotel. The acquisition will not fall within the ambit of related-party transactions. Shares of Gyscoal Alloys closed at ₹9.35 on the BSE, a gain of ₹1.63 per cent.
Vimal Oil & Foods has informed the exchanges that Bank of India, the lead banker of a consortium of lenders, served a symbolic possession notice under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act to the company on November 15. The stock gained 0.94 per cent at ₹37.5 on the BSE.
The board of Fineotex Chemical has approved a proposal to buy back its own shares. The company will buy back 9.98 lakh shares (representing about 0.89 per cent of its total equity share capital) at ₹40 a share, payable in cash. The shares will be purchased from the open market through stock exchanges, the company said. The Fineotex stock slumped 5.35 per cent at ₹28.3 on the BSE.
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