Albert David Limited — Others, 14-11-2024: Change in Director(s)

The company plans to invest up to ₹78.75 crore in the equity shares of Sunsure Solarpark Five Private Limited, which is engaged in renewable energy. This investment aims to reduce the power costs for its Ghaziabad plant by transitioning to solar energy, signifying a shift towards sustainable practices. Post-investment, the company will hold approximately 7.29% stake in Sunsure, below the 19% threshold. Investor sentiment may see a positive outlook as this move supports long-term cost efficiency and sustainability objectives.

In a separate development, Mr. Naresh Pachisia has been appointed as an Independent Director for five years starting November 14, 2024, pending shareholder approval. With 42 years of capital market experience, his leadership may strengthen the board’s expertise, enhancing governance and strategic direction.