Rasandik Engineering invests in wholly owned Subsidiary

Rasandik Engineering Industries India Ltd has announced that the Company has made investment in Rasandik Auto Components Pvt Ltd (RACPL) and made RACPL its wholly owned subsidiary. The investment is made at Par Value of Rs. 10/ per Share. The Book Value of RACPL as on August 31, 2006 is around Rs 14/- per Share. The investment in RACPL is Rs 9.89 Millions and the said Company is likely to generate a turnover of Rs 300 Millions for the financial year 2006-07.

Source : Equity Bulls

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