Exide drops 2% as buyout of ING Vysya Life raises concern
24th January 2013 11:18 AM
Exide Industries, the country's largest stored energy solutions provider, declined in early trade on Thursday on concern over the company'sdecision to buy balance 50% stake in ING Vysya Life Insurance Company (IVL) for Rs 5.5 billion.
The company will acquire 26% from ING Group, 16.32% from the Hemendra Kothari Group and 7.68% from the Enam Group to raise its shareholding in IVL to 100%.
Shares of the company are trading at Rs 122.40, down Rs 2.5, or 2% at the Bombay Stock Exchange (BSE) on Thursday at 10:29 a.m.The scrip has touched an intra-day high of Rs 127.50 and low of Rs 121. The total volume of shares traded at the BSE is 129,734.
In the earlier session, the shares fell 1.03%, or Rs 1.3, at Rs 124.90. Currently, the stock is trading down 26.4% from its 52-week high of Rs 166.30 and above 8.41% over the 52-week low of Rs 112.90.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 138.95 (14.05) (10.11) 1 Month 136.65 (11.75) (8.60) 3 Months 138.65 (13.75) (9.92) 6 Months 126.55 (1.65) (1.30) 1 Year 129.00 (4.10) (3.18) Note: Based on previous day closing price.
- You are aiming high, but beware of marketers selling you as an FMCG
- Deadly year for encephalitis feared in India
- A mobile phone for Kerala CM, finally
- India becomes Kenya's largest Asian trading partner
- Pakistan's Punjab government allocates millions for JuD centre
- Wedlock valid only if consummated: High Court
- Underworld has betting syndicates in vice-like grip
- NCRB report: 1,316 juveniles booked for rape last year
- Indian Coast Guards help rescue 26 crew from shipwreck near Yemen
- Army Major captures 'UFO' in Kerala
- Now pay less for roaming calls, texts
- Callgate: Doctors were prime target for Biju, Saritha Nair
- 73 dead, over 71,000 stranded as rains batter Uttarakhand, UP
- Congress raking up secularism issue to hide its failures: BJP
- Wedlock valid only if consummated: HC
- Prices of 348 drugs to come down drastically from May 15