Parsoli Corporation to transfer broking and travel business to subsidiaries

Parsoli Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2007 has approved the transfer of Assets and Liabilities of the Broking Business and Travel and Forex Business of the Company to Parsoli Capital Market Ltd and Parsoli Travel House Ltd (Wholly Owned Subsidiary Companies), respectively subject to necessary approvals.

The Board has appointed KPMG India Pvt Ltd to assist in the proposed business restructuring.

The stock was trading at Rs.38.90, up by Rs.1.65 or 4.43%. The stock hit an intraday high of Rs.38.90 and low of Rs.35.40. The total traded quantity was 9435 compared to 2 week average of 3997.

Source : Equity Bulls

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