The board of Birla Corporation on Tuesday approved a proposal for acquisition of a part of the equity shares of Birla Ericsson Opticals Ltd (BEOL). The company, however, did not disclose the cost of the acquisition. The deal will be in accordance with the terms and conditions of the share purchase agreement entered into among Ericsson Network Technologies AB (ENT) (formerly Ericsson Cables AB, Sweden), Universal Cables and Vindhya Telelinks joint venture partners of BEOL. After the acquisition of shares of ENT in BEOL by the company and other promoters and promoter group persons or entities, Ericsson Network Technologies AB will cease to be a promoter shareholder/ technical collaborator of BEOL. Shares of Birla Corporation closed 0.4 per cent higher on the NSE at ₹549.8, while those of Vindhya Telelinks edged down 2.3 per cent at ₹630; the stock of Universal Cables gained 1.35 per cent at ₹82.80.

Sical Logistics has informed the exchanges that Sical Iron Ore Terminals Ltd, its subsidiary, on July 11 executed the licence agreement with Kamarajar Port. The company will execute the project of Modification of existing Iron Ore Terminal on ‘as is where is’ basis. It will also handle common user coal at Kamarajar Port on design build finance operate and transfer (DBFOT) basis. Shares of Sical Logistics gained 1.23 per cent at ₹160.65 on the NSE. Intraday, the stock climbed to a high of ₹168.70.

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