Menon Pistons Ltd to acquire Lunar Enterprise Pvt Ltd

Menon Pistons Ltd has entered into a Share Purchase Agreement with the promoters of M/s. Lunar Enterprise Private Limited for the purchase of 6,00,000 Equity shares of Rs.252.50 each which amounts to 100% of the paid up capital of the Company. The said Investment is within the authorization limit of Rs.16,00,00,000/- (Rupees Sixteen Crores only). M/s. Lunar Enterprise Private Limited is now a wholly owned subsidiary of the Company.

Shares of MENON PISTONS LTD. was last trading in BSE at Rs. 42.35 as compared to the previous close of Rs. 40.25. The total number of shares traded during the day was 23314 in over 255 trades.

The stock hit an intraday high of Rs. 42.75 and intraday low of 40.50. The net turnover during the day was Rs. 979115.00.

Source : Equity Bulls

Keywords

MENONPISTONS INE650G01029 Acquisition LunarEnterprise