Strides Arcolab has informed the exchanges that the Foreign Investment Promotion Board has informed the company that its application for issuing equity shares to non-resident shareholders of Shasun Pharmaceuticals under the scheme of amalgamation has not been approved. The rejection was made on the grounds that the scheme of amalgamation is yet to be approved by the competent High Court in India, FIPB informed the company. The company is proposing to make a representation to the FIPB. The stock on Friday closed at ₹1,174, up 0.5 per cent on the BSE.
The QIP committee of Talwalkars Better Value Fitness has approved closing of the issue on June 19. The company has fixed the issue price at ₹305 a share, a discount of about 4.47 per cent or ₹14.26 a share, to the floor price of ₹319.26. The equity shares will be allotted to eligible QIBs. The issue was opened on June 17. Shares of Talwalkars edged up 0.35 per cent over the previous day’s close on the NSE.
Shree Hari Chemicals Export has informed the BSE that it has received a notice from the Maharashtra Pollution Control Board directing it to close down the manufacturing activities at the company’s factory at A/8, M.I.D.C. Industrial Area, Mahad, Raigad (Maharashtra). The company manufactures H-Acid at this facility. The company has not provided the financial impact or other details of the order. Shares of Shree Hari Chemicals slumped 20 per cent at ₹102.50 on the BSE.
Nihar Info Global has operationalised its e-commerce portal www.cinescope.in, a movie-related portal. According to the company, currently 60 Telugu movies are available for online streaming and 4,000 CDs and DVDs for online sale. Shares of Nihar Info Global surged 4.8 per cent at ₹22.95 on the BSE.