Shivalik Bimetal Controls Limited inks agreement for acquisition

Shivalik Bimetal Controls Limited has signed an agreement(s) to purchase the 50% shareholding from the joint venture partner, PortWest Corporation (Formerly known as Checon Corporation USA) in Checon Shivalik Contact Solutions Private Limited (CSCS), consequent to which "CSCS" will become a wholly owned subsidiary of the Company, following the completion of the procedural requirements.

The board also approved proposal to purchase the 55% shareholding from the associate partners, Ultra Portfolio Management Private Limited and O D Finance and Investment Private Limited in Shivalik Bimetal Engineers Private Limited (SBEPL), consequent to which "SBEPL" will become a wholly owned subsidiary of the Company, following the completion of the procedural requirements.

Shares of SHIVALIK BIMETAL CONTROLS LTD. was last trading in BSE at Rs. 550.05 as compared to the previous close of Rs. 559.50. The total number of shares traded during the day was 9957 in over 1006 trades.

The stock hit an intraday high of Rs. 566.90 and intraday low of 545.55. The net turnover during the day was Rs. 5498346.00.

Source : Equity Bulls

Keywords

SHIVALIKBIMETALCONTROLS INE386D01027 Agreement StakeIncrease