Stylam Industries Limited to dispose stake in associate company

The Board of Directors of Stylam Industries Limited have approved the terms and conditions to dispose of 3,40,000 equity shares of Alca Vstyle Sdn Bhd (An Associate Company) a company incorporated in Malaysia which are held as investment.

The proposed transaction/sale is subject to receipt of relevant approvals and completion of contractual obligations and fulfilment of necessary due diligence requirements. post the transaction, Alca Vstyle Sdn Bhd will cease to be an Associate of the Company.

Shares of Stylam Industries Limited was last trading in BSE at Rs. 1053.60 as compared to the previous close of Rs. 1033.25. The total number of shares traded during the day was 4660 in over 746 trades.

The stock hit an intraday high of Rs. 1068.00 and intraday low of 1030.05. The net turnover during the day was Rs. 4884679.00.

Source : Equity Bulls

Keywords

StylamIndustries INE239C01020 StakeSale AlcaVstyleSdnBhd