Company news

| Updated on March 09, 2018 Published on December 30, 2015

The board of Parenteral Drugs (India) has approved the disinvestment of equity shares held by the company in its non-operational subsidiaries - Parentech Healthcare and Parenteral Surgicals as the two are loss-making companies. The board also accorded its approval to declare the non-working subsidiaries - Abhay Drugs, Anjaney Pharmaceuticals, Parenteral Biotech and Parenteral Impex - as defunct companies. Shares of Parenteral Drugs gained 2 per cent at ₹46.05 on the NSE.

The board of Gillanders Arbuthnot & Co has approved the increase in authorised share capital to ₹74 crore from ₹44 crore. The board has also approved infusion of capital worth ₹30 crore in one or more tranches by issuing 7.75 per cent cumulative redeemable preference shares of ₹100 each on private placement basis to the promoters/promoter group. The stock of Kothari group company Gillanders tumbled 3.76 per cent at ₹72.90 on the NSE.

STL Global has informed the exchanges that it had moved an application to Punjab National Bank and Allahabad Bank for a one-time settlement of its credit lines. Both banks have given approval to the proposal and accorded sanction for the same, STL Global informed the exchanges. According to the company’s annual report, bank loan repayable on demand stood at ₹57.5 crore, at the end of March 31, 2015. Shares of STL Global closed flat at ₹6.25 on the NSE.

Published on December 30, 2015
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