Nagpur Power & Industries, engaged in the manufacturing of high, medium, low carbon ferro manganese and silico manganese slag has received approval from the board of 'The Motwane Manufacturing Company' to purchase shares from one of the existing shareholders of 'The Motwane Manufacturing Company'.  

Further, the company has initiated the procedure for transfer of shares in demat mode, the said transaction will be completed by next week.

Once the transfer is completed the company's shareholding will be increased from 72.89% to 75.46% in the subsidiary company.

Shares of the company gained Rs 0.8, or 2.37%, to settle  at  Rs 34.55.  The total volume of shares traded  was 34 at  the BSE (Tuesday).