Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals, it said in a statement.
($1 = 83.2600 Indian rupees)
(Reporting by Indranil Sarkar in Bengaluru)
Market Closed -
Other stock markets
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5-day change | 1st Jan Change | ||
2,103 INR | +5.05% | +2.19% | +22.06% |
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BENGALURU (Reuters) - Indian textiles maker Raymond on Friday announced a 6.82 billion rupees ($81.91 million) deal to buy majority stake in automotive firm Maini Precision Products to venture into aerospace, defense and electric vehicle components business.
Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals, it said in a statement.
($1 = 83.2600 Indian rupees)
(Reporting by Indranil Sarkar in Bengaluru)
Price
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Change
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5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,743 PTS | +2.11% | +3.03% | - | ||
2,103 INR | +5.05% | +2.19% | 1.6B | ||
1st Jan change | Capi. | |
---|---|---|
+22.06% | 1.6B | |
+13.28% | 6.85B | |
+2.67% | 3.45B | |
+8.40% | 2.38B | |
+21.62% | 2.32B | |
-6.38% | 2B | |
+15.23% | 1.86B | |
+3.17% | 1.77B | |
+27.87% | 1.64B | |
+5.30% | 1.63B |