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The board of directors of Ahluwalia Contracts (India) Ltd on Friday approved the allotment of 25.35 lakh equity shares to Bikramjit Ahluwalia and 16.9 lakh equity shares of ₹2 each to Sudershan Walia, promoters of the company, at a price of ₹118 a share. The company had earlier received approval from the board and shareholders for the allotment. Shares of Ahluwalia Contracts crashed 5.38 per cent on Friday to ₹215.55 on the BSE.
Gujarat Industries Power Company has informed the exchanges that due to a technical snag on November 29 in the stator winding of the Generator, Unit - 1 (125MW), the Surat Lignite Power Plant tripped. The repairing work of the damaged stator winding has been initiated in consultation with the experts from BHEL (the original equipment manufacturer). The company expects the unit to restart function before the end of December. The stock of Gujarat Industries Power closed at ₹89.35, down 2.3 per cent on the NSE.
Shreyas Shipping & Logistics Ltd has entered into a Memorandum of Agreement with Orient Express Lines Inc, Panama, for purchase of one vessel MV OEL Gujarat. The size of the vessel is 1613 TEUs and the delivery is expected in January 2015. The financial impact for the said agreement is $5.4 million, the company said. Shares of Shreyas Shipping jumped 4.6 per cent to ₹196 on the NSE..
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