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Styrolution ABS (India) shines on plan to acquire 100% equity shares of Styrolutions India

21 Nov 2013 Evaluate

Styrolution ABS (India) is currently trading at Rs. 392.10, up by 5.75 points or 1.49% from its previous closing of Rs. 386.35 on the BSE.

The scrip opened at Rs. 400.00 and has touched a high and low of Rs. 400.80 and Rs. 386.15 respectively. So far 223 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 800.00 on 31-Dec-2012 and a 52 week low of Rs. 336.00 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 397.95 and Rs. 381.00 respectively. The current market cap of the company is Rs. 689 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 11.12% and 13.88% respectively.

Styrolution ABS (India) has received an approval for the proposal of making Styrolutions India it’s wholly owned subsidiary by acquiring 100% of its equity shares, subject to any mandatory approvals. The board of directors at its meeting held on November 20, 2013 has approved for the same.

Styrolution ABS is engaged in manufacturing and selling acrylonitrile-butadiene-styrene and styrene-acrylonitrile and other products to industries, such as consumer durables, automobiles, business machines, telecommunications, electronics, etc.

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