India Cements has fixed June 9 as the record date to determine the shareholders of Trinetra Cement and Trishul Concrete Products who are eligible to receive equity shares of the company under a scheme of arrangement. The company has received approval from the National Company Law Tribunal, Division Bench, Chennai. Trinetra Cement (listed) and Trishul Concrete (unlisted) are subsidiaries of India Cements, which are to be merged with itself. The merger ratio is two shares of India Cements for every nine shares of Trinetra Cement Ltd. Shares of Trinetra closed at ₹49.80, down 1.97 per cent, on the BSE; India Cements shares slumped 4.7 per cent at ₹184.35.

The board of directors of Somany Ceramics on Wednesday decided to terminate the joint venture agreement executed between Keraben Grupo S.A. (formerly known as Keraben S.A.) and the company in 2006. The agreement (50:50 joint venture) was for the setting up of SKPL Ceramics Pvt Ltd (formerly Somany Keraben Private Ltd). In its annual report for 2015-16, the company had said there “was no business activity” in Somany Keraben Private Ltd. Shares of Somany Ceramics closed at ₹729.90 on the BSE, down 1.75 per cent.

Fedders Lloyd Corporation Ltd has informed the exchanges that the proposed change of name of the company to Fedders Electric and Engineering Ltd has been approved by its shareholders through postal ballot on March 23. The company has also received the final approval from the Registrar of Companies, Uttar Pradesh, for the name change. Subsequently, the company amended the name change in the Memorandum and Articles of Association. Now, the Company is in the process of filing the application for obtaining the final name change approval from the stock exchanges. The stock on Wednesday slipped 0.96 per cent at ₹72.35 on the BSE.

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