The board of Agarwal Industrial Corporation has approved the allotment of five lakh warrants at an exercise price of ₹345 a share to non-promoters — Priti Ashit Mehta (2.5 lakh), Garnet International (1.5 lakh) and Hem Chand Jain (one lakh). The board also gave its nod to allot four lakh shares to Garnet International and three lakh shares to Aavyana Advisors LLP at an exercise price of ₹140 a warrant following conversion of the warrants allotted to them on October 4, 2016. The stock of Agarwal Industrial closed at ₹567.55 on the NSE, down 0.48 per cent.

The board of Star Cement on Wednesday fixed April 3 as the record date for the purpose of determining the eligible shareholders of Star Ferro and Cement . According to a scheme of arrangement, 1.33 equity shares of Star Cement will be allotted for each share held in Star Ferro and Cement. After hitting a 52-week high of ₹132.25 on the NSE, the Star Ferro and Cement stock closed flat at ₹128.25.

Jiya Eco-Products on Wednesday said it has developed an innovative and cost-efficient fuel pellet. The pellets are produced by compressing biomass, including all types of wastes — agricultural as well as forest waste. These can be used as an alternative to fossil fuels and by industries, such as dyeing units, chemicals, pharmaceutical, hotel, catering, bakeries and others. The pellets are environment friendly as they emit zero smoke, contain low ash content, and can be used in different settings. Shares of the company were up 3.8.7 per cent at ₹51 on the BSE.

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