Rose Merc appoints Sharma, Pokharna as its directors

Mumbai-based communication, trading and distribution company Rose Merc Ltd said it appointed Dhani Rain Sharma and Ravindra Pokharna as directors of the company.

On Tuesday, the company shares closed 13% higher at Rs2.45 on the Bombay Stock Exchange, while the Sensex ended at 0.3% up at 17,985 points.

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Gokul Refoils to set up 80 MW thermal power plant near Surat

Gokul Group, under its legal entity Gokul Refoils & Solvent Ltd, and Gujarat Mineral Development Corporation (GMDC), said it is planning to set up 80 MW lignite based thermal power station near Tadkeshwar in Gujarat. The cost of the total project cost is nearly Rs460 crore.

In this power plant, Gokul Refoils & Solvent will have 74% equity stake and GMDC will have the remaining stake. The project will be set up on 61 hectares of land, which is already acquired. The plant capacity is divided in parts of 55 MW which would be supplied to GMDC (20MW) and Gokul Group (35 MW) and the rest 25 MW capacity is available for sell to Gujarat Urja Vikas Nigam (GUVNL) and other parties.

On Tuesday, Gokul Refoils & Solvent shares closed 5.2% higher at Rs93 and GMDC shares closed 0.5% at Rs122 on the Bombay Stock Exchange. The Sensex ended at 0.3% up at 17,985 points.

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Geojit BNP Paribas Q1 net profit fell 53% to Rs6.2 crore

Geojit BNP Paribas Financial Services Ltd reported a 53% fall in its first quarter net profit due to losses in its two joint ventures.

For the quarter to end-June, the company reported a net profit of Rs6.19 crore from Rs13.3 crore as its total revenues fell 16% to Rs64.5 crore from Rs76.7 crore, same period last year.

The decline in profitability is mainly due to the losses of two joint ventures, BNP Paribas Securities India Pvt Ltd and Aloula Geojit in Saudi Arabia, it said in a regulatory filing.

On Tuesday, the company shares closed 2.6% down at Rs33 on the Bombay Stock Exchange, while the Sensex ended at 0.3% up at 17,985 points.

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