The Indian Card Clothing Company Ltd to acquire balance 40% in UK foreign subsidiary

The Board of Directors of The Indian Card Clothing Company Limited in its meeting held today, which commenced at 12:30 p.m. and concluded at 1:30 p.m. has considered and approved the proposal of acquiring balance 40% equity stake in Garnett Wire Ltd., UK - foreign subsidiary of the Company, from the Joint Venture Partner - Joseph Sellers & Son Limited.

Shares of Indian Card Clothing Company Limited was last trading in BSE at Rs. 273.80 as compared to the previous close of Rs. 251.55. The total number of shares traded during the day was 17515 in over 487 trades.

The stock hit an intraday high of Rs. 276.70 and intraday low of 250.05. The net turnover during the day was Rs. 4766538.00.

Source : Equity Bulls

Keywords

IndianCardClothingCompany INE061A01014 StakeAcquisition Subsidiary JV GarnettWire