L&T may rise on buyback plan

Larsen & Toubro (L&T) announced that its board will meet on 23 August 2018, to consider a proposal for buyback of equity shares of the company. The announcement was made on Saturday, 18 August 2018.

IT major Infosys said that its board has accepted the resignation of M D Ranganath as the chief financial officer and key managerial personnel of the company. Ranganath will continue in his current position as chief financial officer till 16 November 2018. The board will immediately commence the search for the next chief financial officer. The announcement was made on Saturday, 18 August 2018.

Goa Carbon announced that the maintenance work at its Goa unit located at St. Jose de Areal, Salcete-Goa has been completed and the Kiln has been lit up. After preliminary heat up, feeding of raw material will commence and normal production will resume from 18 August 2018. The announcement was made after market hours on 17 August 2018.

Jet Airways (India) will be watched. With reference to news quoting, "Jet Airways in talks with True Jet for subleasing of ATR Aircrafts", Jet Airways (India) clarified after market hours on 17 August 2018, that it continues to evaluate all possible alternatives to ensure optimum utilisation of its fleet. The company has been regular in making the required disclosures. It is, however, unable to comment on the reasons for the increase in its share price on the stock exchanges.

CG Power and Industrial Solutions (CG) entered into a strategic alliance agreement with TENAGA Switchgear Sdn. Bhd., Malaysia (TSG) to leverage each company's unique strengths and assets to expand market reach and enhance customer base in Southeast Asia-Pacific (SEAP), particularly Malaysia. The alliance further cements the existing strong bond between CG and TSG where CG is already a key partner to Tenaga Switchgear on power transformers and circuit breakers. The agreement between the companies includes product development and promotion of 11 kV Gas Insulated Switchgear (GIS) in Malaysia to address the rapidly growing demand in this region. As per the agreement, both the companies will collaborate in the Malaysian market. The announcement was made after market hours on 17 August 2018.

Mangalore Chemicals & Fertilizers announced that, Ministry of Environment, Forest and Climate Change (MoEF&CC), Government of India, vide its letter dated 14 August 2018, has accorded the Environmental Clearance (EC) to the project for expansion cum modernisation of a fertilizer plant. The announcement was made after market hours on 17 August 2018.

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