Company news

| Updated on January 20, 2018 Published on April 25, 2016

Uflex has developed a new cast polypropylene film to be used for robust sealing purposes. The product is used in packaging snacks, condiments and products that need protection from low atmospheric pressure, the company has said in an exchange filing. The laminate film was launched in February and a “two-layer laminate of this film can replace three-layered traditional laminates to withstand nitrogen flushing”, the company said. Shares of Uflex ended flat at ₹180.90 on the NSE.

Fortune Financial Services India has raised ₹204.10 crore through a rights issue. In a notification to the stock exchanges, the company said that its Internal Finance Committee on Monday approved the allotment of 226.78 lakh equity shares of face value ₹10 each for cash at ₹90 a share on fully-paid basis to all eligible applicants who had applied for the rights issue and whose applications were valid. Shares of Fortune Financial Services edged down 1.4 per cent at ₹148.20 on the BSE.

The board of Aarey Drugs & Pharmaceuticals will meet on May 4 to consider expansion of the manufacturing facilities of the company and to review a new tie-up to add product line. The board will also review the current business status and raising funds from banks. Besides, the meet will consider an issue of equity shares and/or warrants on preferential basis to the promoters/non-promoters of the company and to increase its authorised capital. The company’s stock surged 14 per cent at ₹33.15 on the BSE.

Published on April 25, 2016
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