Deccan Aviation to hive-off charter services, MRO business as separate entities

The Board of Directors of Deccan Aviation Ltd at its meeting held on April 26, 2007, inter alia, has considered and approved in principle, subject to approval of the Shareholders the following:

1. Hiving off the Charter Services into a separate entity through a wholly owned subsidiary and formation of a Company for the same.

2. Transfer of the Maintenance and Repair Facility into a separate entity and formation of a Company for the same.

The stock closed the day at Rs.114.75, down by Rs.2.75 or 2.34%. The stock hit an intraday high of Rs.119.45 and low of Rs.113. The total traded quantity was 149272 compared to 2 week average of 294833.

Source : Equity Bulls

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