Company news

| Updated on January 09, 2018 Published on December 21, 2017

Steel Strips Wheels has bagged a new export order worth $2.5 million from Egypt for truck wheels. The total order size is 32,000 wheels, which would be dispatched from its new plant in Chennai from January 2018. This order strengthens SSWL’s presence in the high-potential truck & trailer segment. The company is also in touch with other large trailer-makers in the EU and the US and expects to get more orders in this segment in the near future. Shares of Steel Strips gained 0.9 per cent at ₹1,049.10 on the NSE.

The board of directors of Gujarat Industries Power Company on Thursday approved the rescission of the proposed scheme of merger of GIPCL Projects and Consultancy Company with itself before the National Company Law Tribunal. The board approved the proposal to file the application for ‘voluntary liquidation’ of GIPCL Projects and Consultancy Company, before the NCLT. Accordingly, the company is not proceeding further for merger of its wholly-owned subsidiary. Shares of GIPCL closed at ₹133.40, up 1.7 per cent on the NSE.

The board of Thomas Cook India on Thursday approved further investment of ₹99,95,469 in the equity shares of TC Forex Services (formerly Tata Capital Forex), a wholly-owned subsidiary of the company. The fund infusion will happen by way of subscription to its right issue. Shares of Thomas Cook slipped 1.75 per cent at ₹238.80 on the NSE.

Published on December 21, 2017
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