Tube Investments acquires 1.5 crore FCCPS of Cholamandalam DBS Finance Ltd

Tube Investments of India Ltd has announced that on May 11, 2010 the Company has acquired 1,50,00,000 - 1% Fully Convertible Cumulative Preference Shares of Rs 100 each aggregating to Rs 150 Crores of Cholamandalam DBS Finance Ltd.(CDFL) at face value from New Ambadi Estates Pvt Ltd.

The Tube Investments stock was trading at Rs.102.75, up by Rs.2.25 or 2.24%. The stock hit an intraday high of Rs.107.20 and low of Rs.101.10.

The total traded quantity was 377744 compared to 2 week average of 362332.

Source : Equity Bulls

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