Comments
Titagarh Wagons Ltd on Monday moved a step ahead in terms of bringing its ship building business, so far carried out through subsidiaries, under its fold.
Shareholders of the company considered a proposal for the merger of its wholly owned subsidiary Titagarh Marines Ltd along with two of its subsidiaries Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd with Titagarh Wagons.
The formal approval for the scheme of amalgamation before the Calcutta High Court, however, will take some time. The merger would mark Titagarh Wagon’s entry into ship, and trawler building, including manufacturing of barges for the Indian Navy.
Meanwhile, Titagar Wagons has reported a consolidated net loss of Rs 2.13 crore in the third quarter of 2015-16 against Rs 2.77 crore net profit in the corresponding quarter in the previous fiscal.
The Rs 2 stock of Titagarh Wagons on Monday closed 9.79 per cent up on the BSE at Rs 128.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.