The board of directors of Fineotex Chemical on Thursday approved sub-division of its equity shares having face value of ₹10 each into five equity shares of face value ₹2 each. The board also gave the nod to the consequential alteration in the relevant clauses relating to the Memorandum of Association of the company. The board constituted a Sub-division Committee, which is authorised to finalise the record date for the purpose of sub-division of shares and to take all necessary, expedient and incidental actions for sub-division. The stock of Fineotex Chemical closed at ₹123.70 on the NSE, down about 2 per cent over the previous day’s close.

Smruthi Organics has informed the BSE that beginning April 13, workers have commenced strike at the company’s two plants at Solapur. The management is keen to restore normal functioning of the plants and therefore, efforts are being made to negotiate with the workers. The strike may affect the working of the company and its financial performance during the current financial year, the communique said. Shares of Smruthi Organics gained 0.36 per cent at ₹70 on the BSE.

Container Corp of India (Concor) has informed the exchanges that the Ministry of Railways, Government of India, has transferred 6,013 equity shares to the Central Public Sector Enterprises Exchange Traded Fund as loyalty bonus shares to retail investors. Post- transfer, government shareholding in Concor stands at 61.79 per cent of the paid-up equity shares of the company. Shares of Concor edged down 0.6 per cent at ₹1,670 on the BSE.

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