ProConnect Supply Chain Solutions Limited (ProConnect), a wholly owned Subsidiary of Redington (India) Ltd has announced that it had acquired 90% stake in Auroma Logistics Private Limited (ALPL) and proposed to acquire the remaining stake after 3 years at a pre-agreed formula.
By virtue of aforesaid acquisition, the ALPL has become a subsidiary of ProConnect and step-down Subsidiary of the Company. ALPL is into business of Warehousing and Logistics with majority of the business covering consumer durable goods segment.
This investment in ALPL will enable ProConnect to expand its Supply Chain business in consumer durable segment resulting in bringing net new businesses.
Shares of REDINGTON (INDIA) LTD. was last trading in BSE at Rs.92.55 as compared to the previous close of Rs. 89.9. The total number of shares traded during the day was 11805 in over 190 trades.
The stock hit an intraday high of Rs. 93.85 and intraday low of 89.9. The net turnover during the day was Rs. 1092579.