Asia
Hind Rectifiers Board Approves Name Change, Capital Increase; Shares Plummet 4%
Hind Rectifiers (NSE:HIRECT, BOM:504036) said its board has approved a proposal to change the company's name to Hirect Ltd., subject to shareholder approval and clearance from the Ministry of Corporate Affairs, according to a Wednesday filing on Indian bourses.The board also approved an increase in the company's authorized share capital to 300 million rupees from 100 million rupees, the filing said.Shares of the company fell over 4% in recent trade.
BOM:504036NSE:HIRECT
