/ Titagarh Wagons’ Subsidiary TSPL Acquires Shares Of Titagarh Firema Adler ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 20 June 2017

Titagarh Wagons Limited’s wholly-owned subsidiary, Titagarh Singapore Pte Ltd. (TSPL) has acquired the shares held by Adler Plastic SpA, Italy, representing 10% of the total paid-up share capital of Titagarh Firema Adler SpA (TFA), a subsidiary of the company.
As a result of the above, TFA has become a wholly-owned subsidiary of the company in which the company holds 1.8% directly and balance 98.2% is now held by TSPL.
Titagarh Wagons Limited moved in negative territory in the morning hours and touched an intraday low of Rs 117.9 per share, down by nearly 2.8%.
The company is engaged in the manufacturing and selling of railway wagons, steel castings, heavy earth moving and mining equipment, bailey bridges, electric multiple unit (EMU) and non-ferrous metal alloys, among others. It operates through two business segments: wagons & coaches, and others.
The company is also engaged in finance, hire purchase and leasing, and ship building, ship breaking, shipping, marine engineering, naval architecture and ocean engineering.

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