Mangal Electrical Industries (NSE:MEIL, BOM:544492) Chief Financial Officer Pawan Mendiratta has resigned, citing personal reasons, according to an India bourse filing on Thursday.
His resignation will take effect from Sept. 3, the company said.
Shares of the company rose over 1% in recent trade.
Sinosoft (SHA:603927) subsidiary Ningbo Sinosoft Information Technology has completed its deregistration following acceptance by market administrators in Ningbo, China, according to a Thursday filing with the Shanghai bourse.The cancellation will help the Chinese software developer reduce management costs, optimize resource allocation, and improve operational efficiency, according to an April 12, 2025 filing.
Japan's railway operators have seen greater interest from activist investors due to perceived unlocked shareholder value, Nikkei Asia reported Thursday.Aya Nomura, daughter of activist investor Yoshiaki Murakami, holds roughly 3% in Osaka-based rail operator Kintetsu Group Holdings (TYO:9041), the report said.Nomura also owns about 2% of Nagoya Railroad (TYO:9048) and around 1% of Keihan Holdings (TYO:9045), also from Osaka, according to the report, citing May shareholder meeting releases.Other activist investors banking on railway companies include City Index Eleventh, with around 8% of holdings in Keikyu (TYO:9006) as of March, and 3D Investment Partners, holding around 7% in Seibu Holdings (TYO:9024) as of May, the report said.Railway stocks are materially undervalued as per the activists, with Nagoya Railroad and Keihan Holdings' price-to-book ratio of 0.7% and 0.9%, respectively, being under the liquidation value of 1, the report said.Rail operators also own large amounts of real estate with unrealized gains, such as train stations and commercial complexes, according to the report.The activists are pushing for the sale of underutilized real estate or redevelopment through partnerships to improve the rail operators' asset efficiency, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Ramco Cements (NSE:RAMCOCEM, BOM:500260) said an excise duty dispute related to levy based on MRP for bagged cement amounting to 16 million Indian rupees has been dropped, according to an India bourse filing on Thursday.Shares of the company rose nearly 3% in recent trade.