Tube Investments of India to acquire 15 lakhs shares of Cholamandalam Investment

Tube Investments of India Ltd has announced that the Board of Directors of the Company at its meeting held on November 16, 2010, approved the purchase not exceeding 15 lakhs Equity shares of Rs. 10 each of Cholamandalam Investment and Finance Company Ltd. The above investment is subject to the approval of the shareholders under Section 372A of the Companies Act, 1956.

The approval of the shareholders will be sought through Postal Ballot process under Section 192A of the Companies Act, 1956.

The stock closed the day at Rs.145.70, down by Rs.3 or 2.02%. The stock hit an intraday high of Rs.150.30 and low of Rs.143.15.

The total traded quantity was 0.28 lakhs compared to 2 week average of 0.29 lakhs.

Source : Equity Bulls

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