National Aluminium Company (Nalco) said that its board will meet on 12 October 2018 to consider the proposal for buyback of the fully paid-up equity shares of the company.
Tata Motors Group global wholesales in September 2018, including Jaguar Land Rover, were at 1,23,577 units, higher by 6%, as compared to September 2017. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in September 2018 were at 52,018 units, higher by 25%, over September 2017. Global wholesales of all passenger vehicles in September 2018 were at 71,559 units, lower by 4%, compared to September 2017. Global wholesales for Jaguar Land Rover were 52,987 vehicles (*JLR number for September 2018 includes CJLR volumes of 4,853 units). Jaguar wholesales for the month were 18,876 vehicles, while Land Rover wholesales for the month were 34,111 vehicles. The announcement was made after market hours yesterday, 9 October 2018.
Usha Martin will be watched. With reference to the news item titled, "Usha Martin union raises concern over irregular payment of salaries at Ranchi plant," the company clarified that there have been occasional delays in payment of salaries at Ranchi Plant due to difficult financial conditions of the company. In spite of this, the company has always tried to see that the delays do not accumulate and affect the employees adversely. The union quoted in the news item is not a recognized trade union of the company and does not represent the voice of the employees of the company at Ranchi Plant.
The company added that at present, there are no material events and/or material information as per company's policy which is not in the public domain, which could have a bearing on the operation / performance of the company. Therefore, the company is not required to make any announcement, Usha Martin said. The clarification was issued after market hours yesterday, 9 October 2018.
Graphite India said it has decided to halt operations in its Bengaluru graphite electrode plant by halting the furnaces in a sequential manner by October end, during the ongoing revamp work for the replacement of roof sheets. The revamping work will be completed by November end. The company said that it will make up for the production loss and expects total production level to remain unchanged from other production facilities. The announcement was made after market hours yesterday, 9 October 2018.
Bharat Forge will be watched. BF-NTPC Energy Systems (BF-NTPC) is a 51:49 joint venture (JV) company between Bharat Forge and NTPC (jv partners), incorporated in June 2008 for business of manufacturing, buying & selling equipment relating to power sector. Since its incorporation BF-NTPC has not commenced any business activity, both JV partners have decided to close down BF-NTPC. Accordingly, BF-NTPC has initiated a voluntary liquidation process under Insolvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 by passing special resolution in its extra-ordinary general meeting held on 9 October 2018. The announcement was made after market hours yesterday, 9 October 2018.
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