ABG Heavy board proposes name change to ABG Infralogistics
ABG Heavy board proposes name change to ABG Infralogistics The board of directors (BoD) of ABG Heavy Industries, met on Sep. 19, 2007 and approved the change of name of the company to ABG Infralogistics. ABG Heavy Industries reported substantial jump in net profit for the quarter ended June 2007. During the quarter, the profit rose 33.33% to Rs 34.00 million from Rs 25.50 million in the corresponding quarter, last year. Net sales for the quarter rose 20.13% to Rs 202.30 million, compared with the corresponding quarter, a year ago. Shares of the company were last trading down Rs 2.60, or 0.83%, at Rs 310. Total volume of shares traded was 16,909 at the BSE. (02.36 p.m, Thursday)
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The above is subject to the approval of the members at the extra-ordinary general meeting (EGM) to be held on Oct. 15, 2007.
