Oriental Veneer Products Ltd has acquired the entire equity share capital of M/s. Oriental Foundry Private Lirnited, making it a Wholly owned Subsidiary of the Company with effect from March 17, 2017.
Oriental Veneer Products Limited (OVPL) has acquired 2,50,000 Equity Shares of Rs. 10/- each at par from Mr. Saleh Mithiborwala, Promoter of OVPL and 2,50,000 Shares of Rs. 10/- each at par from Mr. Vali Mithiborwala.
Oriental Foundry belongs to Capital Goods industry i.e. Manufacturer of Railway Wagons and Part thereof.
The acquisition of equity shares of OFPL is expected to improve business and operational synergies.
Shares of ORIENTAL VENEER PRODUCTS LTD. was last trading in BSE at Rs.250 as compared to the previous close of Rs. 249.8. The total number of shares traded during the day was 188 in over 25 trades.
The stock hit an intraday high of Rs. 250 and intraday low of 240. The net turnover during the day was Rs. 46462.