Asian Paints subsidiary to sell stake in Asia Paints (Queensland) Ltd

Asian Paints Ltd has announced that Asian Paints (International) Ltd, Mauritius, a wholly owned subsidiary of the Company, has entered into a share purchase agreement for sale of its entire stake in Asia Paints (Queensland) Ltd on June 14, 2007, subject to due diligence.

The above share purchase agreement is subject to requisite approvals as may be necessary.

The stock closed the day at Rs.865, up by Rs.16.40 or 1.93%. The stock hit an intraday high of Rs.872 and low of Rs.847. The total traded quantity was 4944 compared to 2 week average of 8121.

Source : Equity Bulls

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