The board of Sugal and Damani Share Brokers on Monday approved the alteration of the Main Objects Clause of the Memorandum of Association (MOA) of the company to enter into new business activity such as land developers, property promoters and real estate agent. The board has approved the Postal Ballot Notice to seek the approval of the members of the company for alteration of the Main Object Clause of the MOA and to alter the MOA of the company as per the Companies Act 2013.
Shares of Sugal and Damani slumped 5 per cent lower at ₹15.96 on the BSE.