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Orient Beverages has promoted a wholly-owned subsidiary Sharad Quench Private Ltd on March 29 to construct and operate a packaged drinking water project. The first financial year of Sharad Quench will be for the period from March 29, 2017 to March 31, 2018 and annual financial statement will be prepared accordingly, the company said in a statement to the exchanges. “In connection with the above, we hereby inform you that the company has decided not to submit quarterly/year-to-date consolidated financial results of the company and its said subsidiary for the financial year 2017-18 and to continue to submit standalone financial results of the company, pursuant to option available under Regulation 33(3)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,” Orient Beverages said in a notice to the exchanges. Shares of Orient Beverages slipped 3.64 per cent at ₹140.5 on the BSE.
The management committee of the Board of Directors of Dishman Carbogen Amcis Ltd, a subsidiary of Dishman Pharmaceuticals , has allotted 16.14 crore shares of ₹2 each, to its shareholders in the ratio of 1:1 following amalgamation of the former with the company. Shares were allotted to those shareholders whose names appeared on the record book as on May 31. Shares of Dishman Pharma last traded at ₹301.05 (on May 29). Trading has been suspended for now due to the amalgamation.
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