Sundram Fasteners has informed the exchanges that Cramlington Precision Forge Ltd, UK, its wholly-owned overseas subsidiary, has redeemed the company’s preferential shareholding of five lakh shares at par (GBP 1 each) equivalent to ₹4.7495 crore on March 1. The stock of Sundram Fasteners closed at ₹144.75, up 0.66 per cent on the BSE.
MEP Infrastructure Developers said it has received a Letter of Acceptance from the National Highways Authority of India (NHAI) as a contractor for user fee collection at Athur Toll Plaza on the Tambaram to Tindivanam section of NH 45 in Tamil Nadu. The company said it will commence operations from March 26 after complying with statutory formalities. The period of contract is one year. The contractual amount for this project is ₹72.36 crore payable to NHAI on weekly basis over a period of one year, the company added. Shares of MEP Infrastructure Developers rose 1.86 per cent at ₹41 on the NSE.
Financial services firm Religare Enterprises has said its Group CEO Shachindra Nath has resigned from the post. His resignation will be effective from close of business hours on June 3, Religare Enterprises informed the exchanges. “Shachindra Nath, Group CEO of the company has decided to move on in his career and accordingly has resigned from the company,” Religare Enterprises, which offers financial services through its underlying subsidiaries and operating entities, including loans to small and medium enterprises, capital markets, wealth management and asset management, said. Shares of Religare Enterprises gained 1.87 per cent at ₹288.7 on the BSE.