Kajaria Ceramics to make further investment in Kajaria Plywood Pvt Ltd

The board of directors of Kajaria Ceramics Ltd has approved increase in the limits of investments in Kajaria Plywood Private Limited (‘KPPL’), a wholly-owned subsidiary company, from Rs. 60 crores to Rs. 70 crores, in one or more tranches, through subscription of equity shares of KPPL and/or granting of unsecured loan to KPPL, subject to compliance of applicable laws.

Presently, the Company holds entire equity shares of KPPL and KPPL is a wholly-owned subsidiary of the Company. Hence, no new entity will be acquired through the proposed transactions.

Shares of Kajaria Ceramics Limited was last trading in BSE at Rs. 1177.25 as compared to the previous close of Rs. 1175.60. The total number of shares traded during the day was 8176 in over 1164 trades.

The stock hit an intraday high of Rs. 1183.75 and intraday low of 1151.85. The net turnover during the day was Rs. 9525531.00.

Source : Equity Bulls

Keywords

KajariaCeramics INE217B01036 Investment KajariaPlywood