Redington (India) surges as its overseas arm acquires 47.78% stake in ADEO

04 Sep 2013

Redington (India) is currently trading at Rs. 58.45, up by 1.00 points or 1.74% from its previous closing of Rs. 57.45 on the BSE.

The scrip opened at Rs. 59.50 and has touched a high and low of Rs. 59.50 and Rs. 58.00 respectively. So far 637 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 92.80 on 18-Dec-2012 and a 52 week low of Rs. 50.80 on 21-Aug-2013.

Last one week high and low of the scrip stood at Rs. 59.80 and Rs. 55.60 respectively. The current market cap of the company is Rs. 2,333 crore.

The promoters holding in the company stood at 21.04% while Institutions and Non-Institutions held 45.57% and 33.38% respectively.

Redington (India)’s overseas step down subsidiary, Arena Bilgisayar Sanayi ve Ticaret Anonim Sirketi, Turkey (Arena), has acquired 47.78% shares of ADEO Bilisim Danismanlik Hizmetleri San. ve Tic. A.S. (ADEO). The value of investment is $1,090,000.

Besides, Arena has also planned to make further investments of up to $150,000 in ADEO during the month, to increase its holding to 51% and make it as a subsidiary company.

ADEO provides information technology services including consultancy, outsourcing, productive resource utilization and training services in Turkey and abroad, to the companies and their partners operating in IT business.

Related Redington (India) Ltd. Links:

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