Delta Corp Limited's associate to invest in WSPL Containers Pvt Ltd

Waterways Shipyard Private Limited ('WSPL') (an associate company of Delta Corp Limited), has agreed to subscribe to 50% of the paid-up equity share capital of WSPL Containers Private Limited ('WCPL').

The proposed subscription is not by the Company (but by an associate company of the Company) and is not a related party transaction for the Company. 25% of the paid up equity share capital of WCPL is proposed to be subscribed by Mr. Jaydev Mody, part of the promoter group of the Company.

Given that WSPL is an established shipyard operator on India's western coast, this investment is expected to supplement WSPL's existing operations.

Shares of Delta Corp Limited was last trading in BSE at Rs. 253.55 as compared to the previous close of Rs. 247.80. The total number of shares traded during the day was 345793 in over 5313 trades.

The stock hit an intraday high of Rs. 255.70 and intraday low of 246.00. The net turnover during the day was Rs. 86548879.00.

Source : Equity Bulls

Keywords

DeltaCorpLimited INE124G01033 WaterwaysShipyard WSPLContainers