Grindwell Norton to sell its stake in Lincoln Helios India Ltd

Grindwell Norton Ltd has announced that the Company has entered into a non-binding agreement to dispose off its entire shareholding in Lincoln Helios India Ltd (LHIL).

LHIL is a Joint Venture between the Company and Lincoln Gmbh, Germany, with each partner holding 50% of the equity capital. The equity capital of LHIL is Rs One Crore comprising of 10,00,000 equity shares of Rs 10/- each.

LHIL's main business is the design, manufacture and sales of Centralised Lubrication Systems.

The stock closed the day at Rs.130, down by Rs.0.10 or 0.08%. The stock hit an intraday high of Rs.133 and low of Rs.126. The total traded quantity was 30181 compared to 2 week average of 17105.

Source : Equity Bulls

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