Kamla Dials to transfer retail business to subsidiary

Kamla Dials & Devices Ltd has announced that the Board of Directors of the Company at its meeting held on September 18, 2007 has decided to transfer, the retail business division of the Company to a wholly owned subsidiary to be incorporated.

The detailed scheme of arrangement will be prepared and presented to the Board for its consideration and decision at its next meeting.

The stock closed the day at Rs.88.10, up by Rs.2 or 2.32%. The stock hit an intraday high of Rs.90.40 and low of Rs.87.75. The total traded quantity was 11394 compared to 2 week average of 9805.

Source : Equity Bulls

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