Tube Investments invests Rs 150 crores in Cholamandalam DBS Finance Ltd

Tube Investments of India Ltd has announced that the Company on March 13, 2009 has subscribed Rs 150 Crores in 1% Fully Convertible Cumulative Preference Shares (FCCPS) of Cholamandalam DBS Finance Ltd being issued on preferential basis. The FCCPS are convertible into equity shares within a period of 18 months from the date of allotment.

The Tube Investments stock was trading at Rs.24.30, up by Rs.1.10 or 4.74%. The stock hit an intraday high of Rs.24.45 and low of Rs.23.05.

The total traded quantity was 4994 compared to 2 week average of 54080.

Source : Equity Bulls

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