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Banaras Beads , which had bought a plot under auction on November 26, 2007, for ₹16.05 crore from the Haryana Urban Development Authority (HUDA) has surrendered the plot. HUDA had failed to give possession of the plot to the company. The stock of Banaras Beads surged 10 per cent at ₹57.25 on the NSE.
The board of Vaswani Industries has considered and approved renewing the working capital facilities of ₹21 crore with an overall credit limit of ₹21 crore on the terms and conditions contained in the sanction letter (dated November 16) of IDBI Bank. The stock of Vaswani Industries closed at ₹4.10, up 3.8 per cent, on the NSE.
IG Petrochemicals has, through its wholly owned subsidiary IGPL (FZE), entered into a joint venture with Dubai Natural Gas Co Ltd, UAE. The deal entails manufacturing maleic anhydride and would have a capacity of 45,000 tpa. DUGAS is a wholly owned subsidiary of the Emirates National Oil Company (ENOC) and is a well diversified conglomerate with interests in the oil and gas industry. The JV will be named ENOC - IG Petrochemicals LLC. Shares of IG Petrochemicals tumbled 4.4 per cent at ₹124.10 on the NSE.
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