Sudarshan Chemical appoints PS Raghavan as company secretary

Sudarshan Chemical Industries Ltd said it appointed PS Raghavan as its company secretary, replacing NJ Rathi., its director and company secretary.

Mr Rathi, will continue to hold the post of a director on board of the company, Sudarshan Chemical said in a regulatory filing.

On Wednesday, Sudarshan Chemical shares closed 0.2% down at Rs605 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.2% up at 18,257 points.
 

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MVL to buy MVL Telecom for Rs225 crore

MVL Ltd said it has decided to acquire majority stake in MVL Telecom Ltd. The initial investment shall be in the form of equity injection of Rs120 crore in MVL Telecom. This investment in the telecom sector will enable MVL to improve its profitability.

In the next phase, MVL will invest additional Rs125 crore through debt and equity route and this investment will be utilised to set up a manufacturing facility for mobile handsets and components. This manufacturing facility will have annual capacity of 20 million handsets, said the company in a filing to the Bombay Stock Exchange (BSE).

On Wednesday, MVL shares gained 5.9% to Rs95 on the BSE, while the benchmark Sensex ended 1.2% up at 18,257 points.

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Steel Strips Wheels wins orders from two European companies

Steel Strips Wheels Ltd (SSWL) has received orders from two companies in Germany and UK. SSWL will export nearly 5,000 wheels to these companies. The business will earn foreign exchange to the tune of Rs30 lakh, said the company in a statement.

On Wednesday, SSWL shares closed 1.5% up at Rs218 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.2% up at 18,257 points.

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