TCPL Packaging Ltd acquires further stake in subsidiary

TCPL Packaging Limited ("the Company") has further acquired 38600 shares of its subsidiary Company namely Creative Offset Printers Private Limited ("COPPL") from one of the promoters of COPPL at a consideration of Rs. 1.85 crores.

Post acquisition / transfer of shares as aforesaid, the company holds 94.67 % of the share capital of COPPL.

COPPL (subsidiary Company) is in the business of packaging i.e. cartons and boxes required by mobile phone manufacturing companies and other customers. Large number of different manufacturers are expanding in mobile phone production. This would result in increasing the packaging share of the Company.

Shares of TCPL Packaging Limited was last trading in BSE at Rs. 2135.55 as compared to the previous close of Rs. 2128.05. The total number of shares traded during the day was 2352 in over 555 trades.

The stock hit an intraday high of Rs. 2190.00 and intraday low of 2099.05. The net turnover during the day was Rs. 5015610.00.

Source : Equity Bulls

Keywords

TCPLPackaging INE822C01015 Acquisition FurtherStake CreativeOffsetPrinters