Corporate Action

Ballarpur Inds.

Ballarpur Industries will hold a meeting of the Board of Directors of the Company on 8 December 2020.


Electrosteel Castings has received the approval of the Competition Commission of India (CCI) for the proposed amalgamation of Srikalahasthi Pipes into the company.

The scheme remains subject to the receipt of other statutory and regulatory approvals, including the approvals of the Stock Exchanges, Securities and Exchange Board of India, National Company Law Tribunal and the respective shareholders and creditors of SPL and the Company.

Kansai Nerolac

Kansai Nerolac Paints announced that its subsidiary in Sri Lanka, Kansai Paints Lanka has allotted 4,99,99,998 ordinary shares to the company while 3,33,33,332 ordinary shares have been allotted to Capital Holdings, Sri Lanka.

The equity contribution of the company in the further issue of shares by the Sri Lankan subsidiary is about LKR 300 million (~ Rs 12 crore). The percentage shareholding by the company in the said subsidiary remains the same i.e. 60%.

Gujarat Alkalies

Gujarat Alkalies & Chemicals announced that Government of Gujarat vide its order dated 1 December 2020 has given Milind Shivaram Torawane, IAS additional charge as Managing Director of the Company vice P K Gera, IAS(Retd.) who ceased to be a Managing Director on completion of term.

Lak. Mach. Works

Lakshmi Machine Works announced the resignation of Anil Gupta, Nominee Director of Life Insurance Corporation of India.

Larsen & Toubro

Larsen & Toubro through its wholly owned subsidiary, Larsen & Toubro International FZE, signed definitive agreements with Rolls-Royce's Power Systems Division, a global player in power systems for the strategic divestment of its UK-based integrated marine automation solutions provider Servowatch Systems.

A leading supplier of advanced and innovative integrated ship control systems, Servowatch Systems has grown into an internationally recognized provider of Marine Automation platforms over the past eight years of L&T's ownership. The company headquartered in Heybridge, Essex, United Kingdom has 44 employees in the UK and India, who deliver integrated marine automation solutions for navies, commercial vessels and large yachts.

M & M

Mahindra & Mahindra has received reaffirmation in credit ratings from CARE Ratings as under:

Long term bank facilities (Rs 1402.42 crore) - CARE AAA; Stable
Short term bank facilities (Rs 38.58 crore) - CARE A1+


Wipro has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings.

Wipro will develop new features, capabilities and interfaces for Verifone's Cloud Services offerings, enabling seamless and flexible transaction processing for the company. Leveraging its global engineering support team, Wipro will accelerate time-to-market for Verifone assisting it to transform its customer partnerships.

Ravalgaon Sugar

Ravalgaon Sugar Farm announced that the 85th Annual General Meeting (AGM) of the company will be held on 23 December 2020.

Venlon Enterpris

Venlon Enterprises has revised the Annual General Meeting of the Company which was scheduled to be held on 26 September 2020. The meeting will now be held on a later date18 December 2020.