Birla Corporation board meeting postponed till Fri due to Amphan cyclone

M P Birla Group company Birla Corporation Ltd on Thursday said it has postponed its scheduled board meeting and declaration of quarter results till Friday due to the Amphan cyclone.

The Kolkata-headquartered firm was scheduled to have its board meeting on Thursday, in which standalone and consolidated financial results of the company for the quarter and the year ended March 31 was to be approved along with a recommendation of dividend.

"Due to inclement weather (Amphan cyclone), the meeting of the board of directors scheduled to be held today (Thursday) has been postponed and the same will now be convened on Friday, the May 22, 2020," the company said in a regulatory filing.

The board was also scheduled to consider issuance of non-convertible debentures (NCDs) on a private placement basis and approve premature redemption or buyback of secured NCDs.

The company is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute goods industry as well.

Kolkata and several other parts of West Bengal were hit by severe cyclone Amphan, which has ripped through the state, leaving 12 people dead and blowing away shanties, uprooting thousands of trees besides swamping low-lying areas.

Shares of Birla Corporation Ltd on Thursday closed 4.65 per cent higher at Rs 413.70 apiece on the BSE.