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Gujarat State Fertilizers & Chemicals on Wednesday informed the exchanges of the shutdown of its melamine-2 unit. The shutdown has been done to check and repair the leakage of the salt tube bundle inside the decomposer. The plant is estimated to remain under shutdown for about 17 days to perform inside repair activities. According to the plan, production is expected to resume on August 4, the company said in the notification. Shares of GSFC gained about a per cent at ₹126 on the NSE.
AksharChem India has informed the exchanges that the QIP committee of the board of directors on Wednesday passed a resolution declaring closure of the qualified institutional placement. The panel has approved the issue price of ₹776 a share for issuance of up to 8.9 lakh shares to be allotted to eligible qualified institutional buyers. Shares of AksharChem closed at ₹820.65, a fall of about 0.5 per cent, on the NSE.
Hind Rectifiers has informed the exchanges that it has received a request from promoters to reclassify them from the “promoter group” category to the “public” category. Cumulatively, these promoters — Niraj Bajaj, Shekhar Bajaj, Madhur Bajaj, Kiran Bajaj, Priyanka Chhabria, Jaya Darpan Sanghvi, Mridula Bawari and Veena Sitaram Shah — hold 4.31 per cent stake in the company. The stock of Hindustan Rectifiers closed flat at ₹87.3 on the NSE.
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