The Board of Directors of the Company has approved acquisition of the adhesive business of Suparshva Adhesives Ltd. The slump sale agreement includes Brands, Know-how and other assets pertaining to the adhesive business. The gross turnover for the year ended March 31, 2013 of the business being acquired is less than 1% of the Company's turnover.
Shares of Pidilite Industries Ltd was last trading in BSE at Rs.249.60, down by Rs.6.30 or 2.46%. The stock hit an intraday high of Rs.256 and low of Rs.248.15.
The total traded quantity was 0.28 lakhs compared to 2 week average of 0.34 lakhs.
Source: Equity Bulls