Equity Alert: LG Balakrishnan up 10% on chains unit stake sale news
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K.Karthik Raja
Jun 10, 2008, 4:10:43 AM6/10/08
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Equity Alert: LG Balakrishnan up 10% on chains unit stake sale news
Equity Alert: LG Balakrishnan up 10% on chains unit stake sale news
MUMBAI--12:53PM--Shares of LG Balakrishnan & Bros were up 10.62%
at 16.15
rupees after the company said it is seeking shareholder approval to
sell 75%
stake in its industrial chains business to UK-based Renold Plc.
The company will hold the balance 25% in the business.
In May, LGB had said it will demerge its forging division and
transfer it
to unlisted LGB Forge, which is a manufacturer of forgings and
castings.
LGB shares could go up to 18 rupees in the short-term.
So far today, 223,205 shares of LGB have been traded on BSE and
NSE combined.
Equity Alert: LG Balakrishnan up 10% on chains unit stake sale news
MUMBAI--12:53PM--Shares of LG Balakrishnan & Bros were up 10.62%
at 16.15
rupees after the company said it is seeking shareholder approval to
sell 75%
stake in its industrial chains business to UK-based Renold Plc.
The company will hold the balance 25% in the business.
In May, LGB had said it will demerge its forging division and
transfer it
to unlisted LGB Forge, which is a manufacturer of forgings and
castings.
LGB shares could go up to 18 rupees in the short-term.
So far today, 223,205 shares of LGB have been traded on BSE and
NSE combined.
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