Patel Integrated Logistics has signed a letter of intent (LoI) with Sumar Logistics & Industrial Park to acquire a warehouse of 35,000 sq ft carpet area in Gujarat on a 30-year lease. The move is part of the expansion plan for its warehouse business, the company said in a statement to the exchanges. The LoI is subject to a final lease agreement. Shares of Patel Integrated Logistics slipped 2.24 per cent at ₹87.15 on the NSE.
Arrow Greentech on Tuesday said that Arrow Realty Ltd, a step-down subsidiary of the company incorporated under UK Laws, was dissolved on June 27 due to operational inconvenience. All the assets and liabilities of Arrow Realty have been transferred to the parent company Arrow Green Technologies (UK), as Arrow Realty was a 100 per cent subsidiary of the UK arm. The stock of Arrow Greentech edged down 1.06 per cent at ₹550.90 on the NSE.
The share allotment committee of the board of directors of TCI Industries on Tuesday allotted 1,915 zero per cent non-convertible redeemable preference shares of face value ₹100 each at a premium of ₹300 each to Transcorp Estates Private Limited, a promoter and promoter group company. The company had received members’ approval in the AGM on August 2, 2016. Shares of BSE-listed TCI Industries closed 0.35 per cent lower at ₹1,708.