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Incorporated in 2015, Ganges Securities Ltd deals in securities mainly of group companies and in immovable properties. It is also into tea business
Ganges Securities' board approved Q1 financial results, reporting standalone net profit of ₹0.08 Cr and consolidated net profit of ₹1.22 Cr. The board also approved granting an unsecured loan of up to ₹15 Cr to Morton Foods Limited, subject to shareholder approval.
Ganges Securities was fined ₹0.01 Cr by BSE for delayed Compliance Officer appointment. The company states this fine is not material to its financials or operations, and it has already been paid.
Ganges Securities acquired 15 lakh equity shares in Morton Foods for Rs. 3.45 Cr via a rights issue. This increases its stake in MFL to 19.68%, totaling 70.25 lakh shares.