Britannia Industries in spotlight after board OKs stock split

Britannia Industries announced that its board approved sub-division of equity shares of the company from the existing face value of Rs 2 per equity share to face value of Re 1 per equity share. The announcement was made after market hours yesterday, 23 August 2018.

Mahanagar Gas will be watched. BG Asia Pacific Holdings sold 14% stake in Mahanagar Gas in the open market yesterday, 23 August 2018, reducing its holding to 10%.

SREI Infrastructure Finance said its wholly owned subsidiary, Quippo Oil & Gas Infrastructure (QOGIL), proposes to sell 2,600 Equity shares, constituting 26% shareholding in Quippo Drilling International (QDIPL) to an overseas entity. Consequently, QDIPL shall cease to be the wholly owned subsidiary of QOGIL but shall continue to be a subsidiary of QOGIL. Consequently, QDIPL shall also cease to be a wholly owned step down subsidiary of the company but shall continue to be a step down subsidiary of the company. The announcement was made after market hours yesterday, 23 August 2018.

Jubilant Life Sciences announced that India Ratings & Research (Ind-Ra) has upgraded the company's long term credit rating to 'IND AA/Stable' from 'IND AA-/Stable'. Ind-Ra has also affirmed company's short term credit rating of 'IND A1+'. The announcement was made after market hours yesterday, 23 August 2018.

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