Shree Ganesh Forgings acquires 100% stake in Hertecant N V - Belgium & ELFE - France

Shree Ganesh Forgings Ltd has announced that the Company has acquired 100% stake in Hertecant N V - Belgium & ELFE - France from Outo Kumpu - Sweden. By virtue of this acquisition Hertecant N V and ELFE become a 100% subsidiary of the Company.

The stock closed the day at the upper level of the circuit limit of Rs.27.75 with pending buy order for 11122 shares. The stock was up by Rs.1.30 or 4.91% compared to its previous close of Rs.26.45. The stock had hit a high of Rs.70.50 in November 2006 and recently touched a 52 week low of Rs.24.40 on 5 April, 2007. The volumes were huge with 309662 shares changing hands compared to 2 week average of 77929.

Source : Equity Bulls

Keywords