Smartlink Network zooms 19% as board goes ahead with NBFC status request
NEW DELHI: Shares of Smartlink Network Systems spurted over 19 per cent in Monday’s trade after the company said its board has approved the final application to RBI for categorising the company as a non-banking financial company.
The company said its business consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS, two wholly-owned subsidiaries of the company, last year in August.
The stock zoomed 19.41 per cent to hit a high of Rs 111.95 on BSE. A total of 2.3 crore shares changed hands on the counter compared with a daily average of 2.14 lakh shares in the past two weeks.
Meanwhile, the company said that its board has considered and approved the acquisition of Rs 1 crore equity shares aggregating up to Rs 10 crore issued by Digisol Systems “in one or more tranches in accordance with the provisions of Sections 179 and 186 and other applicable provisions, if any, of the Companies Act, 2013 and all other applicable laws and regulations.”
The company said its business consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS, two wholly-owned subsidiaries of the company, last year in August.
The stock zoomed 19.41 per cent to hit a high of Rs 111.95 on BSE. A total of 2.3 crore shares changed hands on the counter compared with a daily average of 2.14 lakh shares in the past two weeks.
Meanwhile, the company said that its board has considered and approved the acquisition of Rs 1 crore equity shares aggregating up to Rs 10 crore issued by Digisol Systems “in one or more tranches in accordance with the provisions of Sections 179 and 186 and other applicable provisions, if any, of the Companies Act, 2013 and all other applicable laws and regulations.”
