The Board of Directors of TI Financial Holdings Limited at their meeting held today have approved further investment in shares of Cholamandalam Investment and Finance Company Limited (CIFCL) upto 300,000 equity shares Rs.10/- each, up to a sum not exceeding Rs.50 Crore.
The board approved the postal ballot notice for seeking approval of shareholders for change of name of the Company to "Cholamandalam Financial Holdings Limited" or "Cholamandalam Financial Services Limited" or such other name as may be made available by the Registrar of Companies alongwith explanatory statement and consequential amendment to Memorandum of Association and Articles of Association, subject to approval of Ministry of Corporate Affairs, Stock Exchanges and other regulatory authorities as may be necessary.
Shares of TI Financial Holdings Ltd was last trading in BSE at Rs.570.5 as compared to the previous close of Rs. 579.3. The total number of shares traded during the day was 1176 in over 64 trades.
The stock hit an intraday high of Rs. 583.55 and intraday low of 570. The net turnover during the day was Rs. 676973.