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Tube Investments of India acquires further stake in Subsidiary Company

Posted On: 2012-12-18 00:30:22

Tube Investments of India Ltd has, on December 17, 2012, acquired 51,208 shares of its overseas subsidiary viz., Financiere C10 SAS, France ("FC10") from the existing shareholders, representing 22.87% of FC10's share capital. FC10 is the holding company of Sedis SAS & Societe de Commercialisation de Composants Industriels, both in France and Sedis Company Ltd, UK.

With acquisition on December 17, 2012, of the balance shares, FC10 has become a Wholly-Owned Subsidiary of the Company.

The Tube Investments of India Ltd stock was trading at Rs.212, up by Rs.1.40 or 0.66%. The stock hit an intraday high of Rs.221.60 and low of Rs.204.50.

The total traded quantity was 5.53 lakhs compared to 2 week average of 0.87 lakhs.

Source: Equity Bulls

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