Comments
Phoenix Mills has acquired the entire 4.98 per cent stake of Eder River in Offbeat Developers for ₹27.98 crore. Following the acquisition, Phoneix Mills’ stake in its subsidiary Offbeat Developers Private Ltd has increased to 93.93 per cent. The deal is not a related-party transaction, the company said in a notice to the exchanges. Offbeat Developers, which is engaged in the business of construction, development and operation of malls and commercial premises, registered an annual turnover of ₹240.44 crore as on March 2017. The stock of Phoenix Mills closed at ₹506.40, down 1.1 per cent on the NSE.
Mercator has won a maintenance dredging contract with Director General Naval Project, Visakhapatnam. The contract value is ₹38.88 crore and the contract work is 12 months, Mercator informed the exchanges. The work has to be completed by FY18. Shares of Mercator gained over 3 per cent at ₹42.70 on the NSE.
Freight wagon manufacturer Titagarh Wagons on Monday said Vincenzo Soprano has been appointed Chief Executive Officer (CEO) of its Italian arm Titagarh Firema. Soprano is a graduate in electrical engineering and MBA from Milan, with specialisation in strategic marketing from Luigi Bocconi University, the Kolkata-based company said in a statement. Titagarh Firema SpA, Italy, is a wholly-owned subsidiary. Shares of Titagarh Wagons gained 3.7 per cent at ₹119.5 on the NSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.