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Stock Report
India Infoline terminates MoU with DSP Merrill Lynch to sell Moneyline Credit Pvt Ltd
Posted On : 2007-05-14 07:23:55( TIMEZONE : IST )
With reference to the earlier announcement dated December 04, 2006 regarding on the Memorandum of Understanding (MoU) entered into by the Company with DSP Merrill Lynch Ltd to sell off its shareholding in the subsidiary Company, Moneyline Credit Pvt Ltd (formerly Khambhat Investment & Trading Company Pvt Ltd) subject to necessary approvals, India Infoline Ltd has announced that, due to prolonged delays in finalization of the transaction and changed business plans, the MoU is mutually terminated with immediate effect.
Consequently Moneyline Credit Pvt Ltd, will continue as a subsidiary of the Company.
The stock closed the day at Rs.436.10, up by Rs.2.45 or 0.56%. The total traded quantity was 176324 compared to 2 week average of 90365. The stock hit an intraday high of Rs.448.80 and low of Rs.426.10.
