Buzzing stock: IFB Industries enters into agreement for acquisition
DSIJ Intelligence / 20 Jul 2017
IFB Industries has given confirmation on the fact of it acquiring Global Automotive & Appliances Pte Ltd (GAAL), Singapore. IFB Automotive Pvt Ltd is the promoting group company of GAAL.
IFB Industries has given confirmation on the fact of it acquiring Global Automotive & Appliances Pte Ltd (GAAL), Singapore. IFB Automotive Pvt Ltd is the promoting group company of GAAL. Agreement has been signed by both the parties for the said acquisition.
IFB Industries has given consideration money of Rs 19.99 crore to acquire 100 percent stake in GAAL.
On Wednesday, the stock closed at Rs 729.10. Today it opened at Rs 735, showing an upside of 0.8 percent.
For FY17, IFB’s revenue grew by 15.9 percent whereas the net profit grew by 62.5 percent on YoY basis.
Company is launching new products and expanding its presence in overseas markets of South East Asia, Middle East, Nepal and Iran.
IFB Industries Ltd. is an engineering company engaged in manufacturing of diverse parts and accessories for motor vehicles and fine blanking components. It is also engaged in trading of home appliances.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.