Aarvee Denims & Exports has informed the exchanges that it has incorporated Aye Ess Spinning Mills Private Ltd and holds 99.99 per cent of its paid-up equity share capital. Aye Ess Spinning Mills has become a subsidiary of the company from November 17. However, the company has proposed to create beneficial interest in the remaining 0.01 per cent holding of Aye Ess Spinning Mills and thereby creating a wholly-owned subsidiary. The stock of Aarvee Denims jumped 2 per cent at ₹45.30 on the BSE.
GSK Consumer Healthcare on Monday announced the appointment of Navneet Saluja as Area General Manager for India Sub-continent. Saluja, who replaces Manoj Kumar, has also been nominated as a director on the Board in place of Kumar, who will pursue his personal interests outside the company, GSK Consumer Healthcare said in a statement. The changes would be effective January 1, 2018. Meanwhile, in a notice to the exchanges, Horlicks, a wholly-owned indirect subsidiary of GSK plc, has nominated Navneet Saluja as nominee director on the Board of the company from January 1, 2018 in place of Manoj Kumar. The stock of GSK Consumer closed at ₹6,038.15, up 0.49 per cent, on the BSE.
Optiemus Infracom has informed the exchanges that it has submitted to the Annual General Meeting a copy of the letter containing a proposal for approval of the scheme of arrangement. MPS Telecom Private Ltd and Oneworld Teleservices Private Ltd have proposed to merge the companies with Optiemus Infracom. Shares of Optiemus Infracom gained 4.47 per cent at ₹83.05 on the BSE.