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Stock Report
Sundaram Clayton to demerge brakes business to WABCO-TVS India Ltd
Posted On : 2007-05-11 07:54:36( TIMEZONE : IST )
Sundaram Clayton Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 14, 2007, to consider a draft Scheme of Arrangement in terms of section 391-394 of the Companies Act 1956 for restructuring the business undertakings of the Company by way of demerger of the brakes business of the Company into its wholly owned subsidiary, namely WABCO-TVS India Ltd.
The stock closed the day at Rs.880, up by Rs.35.55 or 4.21%. The total traded quantity was 911 compared to 2 week average of 1038. The stock hit an intraday high of Rs.928.85 and low of Rs.850.
