The Board of Forbes & Company at its meeting held on 11 September 2020 has approved borrowing up to Rs 150 crore in one or more tranches by issue of perpetual non-convertible debentures through private placement to Shapoorji Pallonji and Company and/or other subsidiaries/associates/group companies of Shapoorji Pallonji andCompany Private at a coupon rate of not more than 10% p.a. (non-cumulative) on the terms to be decided by the Board of Directors.

The borrowing as aforesaid would be utilized for specific purpose of investment in Eureka Forbes through Perpetual Non-Convertible Debentures.

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Net loss of Forbes & Company reported to Rs 45.97 crore in the quarter ended June 2020 as against net profit of Rs 3.44 crore during the previous quarter ended June 2019. Sales declined 40.69% to Rs 421.01 crore in the quarter ended June 2020 as against Rs 709.84 crore during the previous quarter ended June 2019.

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Forbes & Company announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2020.

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CL Educate Ltd, Thinkink Picturez Ltd, Tejas Networks Ltd and PG Electroplast Ltd are among the other gainers in the BSE's 'B' group today, 09 September 2020.

Forbes & Company Ltd spiked 10.00% to Rs 1117.45 at 12:09 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 2267 shares were traded on the counter so far as against the average daily volumes of 2085 shares in the past one month.

CL Educate Ltd surged 9.90% to Rs 68.3. The stock was the second biggest gainer in 'B' group. On the BSE, 65798 shares were traded on the counter so far as against the average daily volumes of 9455 shares in the past one month.

Thinkink Picturez Ltd soared 5.53% to Rs 22.9. The stock was the third biggest gainer in 'B' group. On the BSE, 45204 shares were traded on the counter so far as against the average daily volumes of 2.86 lakh shares in the past one month.

Tejas Networks Ltd gained 5.00% to Rs 71.4. The stock was the fourth biggest gainer in 'B' group. On the BSE, 2.99 lakh shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one month.

PG Electroplast Ltd rose 5.00% to Rs 56.75. The stock was the fifth biggest gainer in 'B' group. On the BSE, 5710 shares were traded on the counter so far as against the average daily volumes of 15357 shares in the past one month.

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