India, Sept. 9 -- The Mumbai-based manufacturer of injection molding machines had a busy board meeting on September 8. A stock split was the headline item face value getting cut from Rs 10 to Re 1 though it still needs shareholder sign-off before going anywhere. The board also reworked its independent director lineup, renewed a key auditor appointment, and gave management more flexibility on inter-corporate lending. What's driving that flexibility, and what it says about the year the company just had, is worth digging into further.

Shares of Chandni Machines Ltd are trading at Rs. 97.40, up 1.87 percent on Wednesday. The stock touched the intraday high of Rs. 99.90 after opening at the same level before slipping to a low of Rs. 90.85. T...