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The board of directors of Orient Beverages has decided to acquire Satyanarayan Rice Mill Pvt Ltd having factory and registered office at Hooghly, West Bengal. Satyanarayan Rice Mill is in the business of manufacturing of water bottling plants. Upon acquisition, Satyanarayan Rice Mill would become a wholly-owned subsidiary of Orient Beverages. Shares of Orient Beverages closed at ₹99.80, up 3.96 per cent, on the BSE.
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Orient Beverages has promoted a wholly-owned subsidiary Sharad Quench Private Ltd on March 29 to construct and operate a packaged drinking water project. The first financial year of Sharad Quench will be for the period from March 29, 2017 to March 31, 2018 and annual financial statement will be prepared accordingly, the company said in a statement to the exchanges. “In connection with the above, we hereby inform you that the company has decided not to submit quarterly/year-to-date consolidated financial results of the company and its said subsidiary for the financial year 2017-18 and to continue to submit standalone financial results of the company, pursuant to option available under Regulation 33(3)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,” Orient Beverages said in a notice to the exchanges.
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On 11 February 2016