Company Overview and News
Kirloskar Pneumatic Company reports standalone net loss of Rs 1.59 crore in the September 2017 quarter
LONDON, July 27, 2017 /PRNewswire/ -- About Compressor Compressors are used to provide either air or gas at very high pressures. The air thus provided is used for transmitting power in various applications like power air tools, pneumatic cylinder actuation, hoists and lifts, transportation medium, fermentation, and combustion. For the transport application, compressors are used in a variety of transit applications, such as main line trains, light rail trains, underground trains, trams, metros, hybrid buses, and electric buses.
French shipbuilder Naval Group, formerly DCNS, is hoping to bag a multi-billion dollar deal from the Indian Navy for maintenance of six Scorpene-class submarines under the government’s P75 programme.
Pneumatic Holdings’ material subsidiary Kirloskar Pneumatic Company (KPCL) has informed the former that the National Company Law Tribunal, Mumbai Bench, has pronounced an order sanctioning the scheme of arrangement and amalgamation of Kirloskar RoadRailer (KRL), and Pneumatic Holdings (PHL) with KPCL. According to the terms of the deal, 53 fully paid-up equity shares of ₹10 each of KPCL will be issued to PHL shareholders for every 40 fully paid-up equity shares they hold in the company.
Although the Indian markets closed in the red, here is the stock which has emerged as the stock of the week. Kirloskar Pneumatic is the highest gainer in the week. On Jan 20, 2017, the stock also traded on its new 52-week high of Rs 1028.
Four banks — Axis Bank, Federal Bank, Lakshmi Vilas Bank and YES Bank — will announce their Q3 results on Thursday. Besides banks, Alembic, DB Corp, GNA Axles, Gallantt Ispat, Hester Biosciences, Kirloskar Pneumatic, Lloyds Metals and Energy, Pneumatic Holdings, Mandhana Retail Ventures, MindTree, SRG Housing Finance and Ujjivan Financial Services will also declare their Q3 results. Expectations are high on Axis and YES Bank numbers.
Submitting the outcome of its Board meeting, Penumatic Holdings (PHL) has informed the BSE of the decisions taken with respect to Kirloskar Pneumatic Co (KPCL), a listed material subsidiary of PHL. The Board meeting held on October 20, unanomously approved a Scheme of Arrangement and Amalgamation between Kirloskar RoadRailer (KRL or the Transferor company) and Pneumatic Holdings (PHL or the Transferor company) and Kirloskar Pneumatic Co (KPCL, or the Transferee company) their respective shareholders providing for the amalgamation of KRL and PHL with KPCL.
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