Top News

IT sector smallcap company Bartronics India Ltd in its latest exchange filing after market hours on Tuesday said it has signed a major MoU. According to the information shared it has signed an MoU with Shri Nagarasingh Private Limited (SNN) in the course of normal business activities. At the time of writing this news the stock was trading at Rs 11.88 down 1.74% or Rs 0.21 on the NSE at 10:31 am while on the BSE the stock was trading at Rs 11.93 down 1.40% or Rs 0.17. The agreement aims to create a strategic collaboration in the agri-produce supply chain. Under the agreement BIL will procure agricultural produce directly from farmers FPOs and mandis while SNN will procure these products from BIL and sell them to quick commerce platforms modern trade retail institutional buyers and other offtakers. The company clarified that the MoU is completely non-binding except for provisions related to confidentiality jurisdiction and termination. In another filing recently the company had informed that the Board of Directors has approved the proposal to change the name of the company to Avio Smart Market Stack Limited which will be implemented after the approval of the Ministry. Additionally the company plans to rename its wholly-owned subsidiary BIL Healthtech Private Limited in line with the new brand identity. The board meeting also decided that the company will be able to borrow up to ₹250 crore subject to shareholder approval. Apart from this the board also approved the proposal of the company to borrow Rs 100 crore from Kinex India Private Limited under a related-party transaction. Additionally the board has decided to appoint a national brand ambassador for farmer awareness initiatives and also approved the new logo of the company.