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A shareholder has sought the intervention of stock exchanges, alleging that Jindal Poly Films and its promoters caused a loss of about ₹700 crore through investments in preference shares of Jindal India Powertech.
Jindal Poly Films announced that the National Company Law Tribunal, Mumbai Bench has sanctioned the scheme of amalgamation between Global Nonwovens and Jindal Poly Films.
3:30 pm Market at Close: Benchmark indices ended the session on a flat note with a negative bias, but the Nifty ended above 9600-mark.
Jindal Poly Films shares surged more than 17 percent intraday Wednesday on a media report indicated that the company is in talks for acquisition in Europe.
Ashok Leyland, Jindal Poly Films, Kwality and Glaxosmithkline Consumer Healthcare are among the other stocks to see a surge in volumes on BSE today, 31 May 2017.
For the full year,net profit declined 39.58% to Rs 275.37 crore in the year ended March 2017 as against Rs 455.78 crore during the previous year ended March 2016. Sales declined 2.88% to Rs 7017.07 crore in the year ended March 2017 as against Rs 7224.80 crore during the previous year ended March 2016.
Jindal Poly Films, a polyester manufacturing company, in its filing to the exchanges on Wednesday, said that it is planning to raise up to Rs 800 crore to fund its business expansion by issuing equity share or securities.
Jindal Poly Films plans to raise up to Rs 800 crore by issuing equity shares or securities to fund its business expansion.