SRS Ltd to acquire SRS Talkies Ltd, SRS e-Retail Ltd

The Board of Directors of SRS Ltd at its meeting held on December 03, 2014, has decided to acquire two group companies.

For future expansion of its Cinema Business, to make 'SRS Talkies Limited' a Group Company, as its Wholly Owned Subsidiary by acquiring its entire paid-up shares i.e. 50,000 Equity shares of Rs. 10/- each at Par.

For future expansion of its Retail Business, to make 'SRS e-Retail Limited' a Group Company, as its Wholly Owned Subsidiary by acquiring its entire paid-up shares i.e. 50,000 Equity shares of Rs. 10/- each at Par.

The decisions have been taken for operational efficiency, better control and specialized management in the business.

Shares of SRS LTD. was last trading in BSE at Rs.27.25 as compared to the previous close of Rs. 26.55. The total number of shares traded during the day was 84474 in over 492 trades.

The stock hit an intraday high of Rs. 27.6 and intraday low of 26.4. The net turnover during the day was Rs. 2275834.

Source : Equity Bulls

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