Pidilite Industries Ltd to divest its stake in Pulvitec, Brazil

Pidilite Industries Limited has executed and completed an Agreement with Soprema Ltda., Brazil to divest its entire shareholding in its 100% subsidiary (Pulvitec) in Brazil. This transaction is not a material transaction for Pidilite.

Apurva Parekh, Executive Vice Chairman of Pidilite Industries Limited, mentions, "With the said transaction with Soprema Ltda., Brazil, a part of Soprema Group, France - one of the world's leading Construction Chemicals Company, Pidilite exits operations in Brazil, and will now focus on emerging markets in Asia and Africa."

Shares of Pidilite Industries Limited was last trading in BSE at Rs. 3014.75 as compared to the previous close of Rs. 2989.80. The total number of shares traded during the day was 12165 in over 1771 trades.

The stock hit an intraday high of Rs. 3036.05 and intraday low of 2965.05. The net turnover during the day was Rs. 36665621.00.

Source : Equity Bulls

Keywords

PidiliteIndustries INE318A01026 StakeSale Subsidiary Brazil