Ador Welding has informed the BSE that employees Plasma Laser Technologies (PLT), the overseas subsidiary company, had filed a petition for liquidation of PLT. The District Court sitting in Nazareth, Isarel, has ordered “liquidation”. The Court has appointed a general receiver, to serve as liquidator until the meeting of the creditors, which will usually take place in about six months. A special manager is also appointed to pursue sale of assets of PLT. Shares of Ador Welding slipped 0.77 per cent at ₹218.30 on the BSE.
The committee of directors of Sintex Industries on Friday allotted 29.26 lakh equity shares of ₹1 each to foreign currency convertible bondholders on the exercise of their conversion right. Following the allotment, the paid-up equity share capital of the company increased to ₹36.81 crore (₹36.52 crore). Shares of Sintex Industries jumped 3.1 per cent at ₹93.55 on the BSE.
Subros has moved its tool engineering and manufacturing activities to a new centre in Noida. Subros Tool Engineering Centre has a strong Tool Design office and large tool manufacturing set up to take care of Subros captive tools and molds requirement and also accept customer orders of tools manufacturing. The company has invested ₹45 crore in setting up tool room since 2004 and has plan to expand in future to meet the customer expectation. Shares of Subros closed at ₹73, a gain of 5.8 per cent over the previous day's close.