Fiem Industries has signed a Memorandum of Understanding with Aisan Industry Co Ltd, Japan, for jointly exploring and building up the business of ‘Canisters’ for the Indian two-wheeler industry as well as manufacturing the same by FIEM with technical support from the latter. Canister is an emission control system product, which is set to enjoy witness demand in India due to implementation of stricter two-wheeler emission norms from April 1, 2016. FIEM Management considers it as another breakthrough in the diversification of its product portfolio as well as enhancing the content per vehicle, which would contribute to the growth of the company. Shares of FIEM Industries gained 3.04 per cent at ₹619.85 on the NSE.

The board of directors of Maxwell Industries on Monday approved the allotment of 30 lakh equity shares to promoter and promoter group pursuant to conversion of an equal number of warrants. They were allotted the shares on February 14, 2015. The warrants were converted at a premium of ₹36 a share. The stock of Maxwell Industries edged down 3.15 per cent at ₹53.80 on the NSE.

Aban Offshore has informed the exchanges that it has received a letter of award from ONGC for deployment of jack-up rig Aban II for a period of three years. The total value of the order is approximately $50 million (equivalent to ₹325 crore). The contract is expected to commence during the first quarter of calender year 2016. Shares of Aban Offshore closed 0.7 per cent lower at ₹231.30 on the NSE.

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