Stock Report

Shipnext ceases to be subsidiary of Eastern Treads Ltd

Posted On : 2021-12-02 11:37:47( TIMEZONE : IST )

Eastern Treads Limited renounced its rights to acquire the equity shares offered by Shipnext Solutions Private Limited, (hereinafter mentioned as Shipnext) and decided to relinquish exercise of control over this subsidiary, Shipnext at its Board meeting held on 30 November 2021 allotted 36,50,000 equity shares each to Nash Meeran LLP and Caif Meeran LLP on private placement basis and Eastern Treads Limited continues its holding with 14.53%. Consequent to this allotment Shipnext has ceased to be a subsidiary of the Company.

Shares of EASTERN TREADS LTD. was last trading in BSE at Rs. 42.85 as compared to the previous close of Rs. 41.15. The total number of shares traded during the day was 2922 in over 28 trades.

The stock hit an intraday high of Rs. 43.95 and intraday low of 40.65. The net turnover during the day was Rs. 126145.00.

Source : Equity Bulls