Gateway Distriparks has informed the exchanges that its subsidiary Gateway Rail Freight is setting up its fourth Inland Container Depot (ICD) at Viramgam near Ahmedabad in Gujarat. This will be a terminal on the confluence point of the two double stack routes between Garhi Harsaru in Gurgaon (Haryana) and two main ports on the west coast at Mundra and Pipavav in Gujarat. The terminal with the railway siding and container yard will be constructed over 35 acres of land and is expected to be operational within a year. All necessary regulatory approvals from Western Railway are in place, the company said. Shares of Gateway Distriparks gained 1 per cent at ₹334.95 on the NSE.
Indraprastha Gas , in the second & final tranche, has acquired 25 lakh shares of Maharashtra Natural Gas at ₹38 a share. Earlier on March 30, the company had acquired 4.75 crore shares of MNGL at ₹38 a share. Following the acquisitions, the company currently holds five crore shares, constituting 50 per cent of present paid-up capital of MNGL. Shares of Indraprastha Gas closed at ₹445.55 on the NSE, as against the previous day’s close of ₹445.05.
The board of Arvind Remedies approved an investment proposal presented by Global Allied Pharmaceuticals LLC, including product development. It was also decided to enter into an agreement stating details of the amount to be invested and the terms and conditions. Considering the proposed investment, it was decided to increase the authorised share capital of the company. The board has appointed Dr Timothy Allen and Dr M Vasudevan, representing Global Allied Pharmaceuticals, as additional directors of the company. Draft notice to the shareholders for postal ballot was approved. Shares of Arvind Remedies surged 9.88 per cent at ₹18.9 on the NSE.
The board of 20 Microns has approved the allotment of 3,82,360 equity shares (face value ₹5) at a price of ₹34 a share in conversion of an equal number of compulsorily convertible warrants to persons other than promoters on preferential basis. Shares of 20 Microns closed a tad higher at ₹30.7 on the NSE.