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Sapphire Foods share price rose 3 percent in the early trade on June 20 after the company board approved sub-division of its equity shares.

The board of directors of Sapphire Foods India at its meeting held on June 19, 2024, approved the alteration in the share capital of the company by sub-division/split of existing equity shares of the company from 1 equity share having face value of Rs 10 each fully paid up, into 5 equity shares having face value of Rs 2 each fully paid-up.

It is subject to the approval of shareholders at the forthcoming 15th Annual General Meeting (AGM) of the company.

The board also approved the alteration of the capital clause (Clause V) of the memorandum of association of the company (MoA) on account of sub-division of equity shares, subject to the approval of shareholders at the AGM.

The date of 15th AGM of the company and record date for the purpose of subdivision/split of existing equity shares of the company, will be intimated in due course and at an opportune time, company said.

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MAS Financial Services Ltd is launching a qualified institutional placement (QIP) worth Rs 400 crore with an upside option of further Rs 100 crore, sources told CNBC TV-18 on June 19.

The indicative price is at Rs 286.25 per share, which is a discount of 8.5 percent to current market price. MAS Financial closed 3.26 percent higher at Rs 315 apiece on BSE.

Base size of QIP implies 8.5 percent dilution with upsized option if exercised implies 10.65 percent, sources added. The lock-in period of 90 days for promoter.

MAS Financial’s consolidated net profit rose 23.3 percent on-year to Rs 69.4 crore in quarter ended 31 March, 2024, and revenue from operations grew by 24.1 percent YoY to Rs 345.8 crore during the same period. Read More

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In response to false media reports Som Distilleries and Breweries clarified that no action whatsoever has been taken by any department on the company.

In our earlier response dated 17th June, 2024 the company had also clarified that the child labour issues reported in the media relate to other Private Limited Company which deals in country liquor primarily and runs under a different management.

The New India Assurance Company has appointed Ms. Girija Subramanian as Chairman cum Managing Director of the company with effect from the date of assumption of charge of the office and up to the date of her attaining the age of superannuation or until further orders, whichever is earlier.

KEI Industries has informed that operations of the plants situated at Rakholi and Chinchpada are partially affected due to stoppage of production, in view of strike announced by Labour w.e.f. 19th June, 2024. However, there is no strike at other plants.

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India’s largest public sector lender, State Bank of India, on June 19 said that its board has approved raising long-term bonds up to an amount of Rs 20,000 crore through a public issue or private placement during FY25.

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Sun Pharmaceutical Industries Ltd has got a warning letter from the United States Food and Drug Administration (USFDA) for its Dadra facility, the company said in a stock exchange filing. The warning letter summarises violations with respect to Current Good Manufacturing Practice (cGMP)

regulations, said the pharma major.

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