This is further to stock in focus news reported today wherein it was spotlighted the major stock actions for the day.
CIE Automotive Limited has approved the acquisition of 100percent of the issued
and outstanding share capital of Aurangabad Electricals (AEL) and authorized
the signing of a share purchase agreement.
CIE Automotive said its board has approved to buy AEL for Rs 875.6-crore, which
includes a future deferred payment about Rs62.2-Crore, Mahindra CIE Automotive said
in a regulatory filing.
advancement brought cheers among investors which led to a sharp surge in the
price of Mahindra CIE Automotive stocks. The Stock rose over 3 intra-day on the
NSE. At 11:40 AM, the stock was up 2.01percent at Rs 243.60 apiece on the NSE.
comparison, the BSE Sensex up 118points at 37,654 and the Nifty is marginally up
18 points at 11,319.