Autoline Industries soars 20% on stake sale plan in US arm
The board will meet on December 22, 2014, to consider and note status of transaction related to stake sale in the Autoline Industries Inc. USA, a wholly owned subsidiary.
 "Autoline Industries soars 20% on stake sale plan in US arm")
Autoline Industries is locked in upper circuit of 20% at Rs 77.85 on BSE after auto parts manufacturer said its board is scheduled to meet on December 22 to consider and note status of transaction related to stake sale in its US-based wholly owned subsidiary.
“A meeting of the board of directors of the company will be held on December 22, 2014, inter alia, to consider and note status of transaction related to stake sale in the Autoline Industries Inc. USA, a wholly owned subsidiary of the company,” Autoline Industries said in a regulatory filing.
The counter has seen huge surge in trading volumes with a combined 1.26 million shares changed hands till 1520 hours and there are pending buy orders for 71,761 shares on BSE and NSE.
“A meeting of the board of directors of the company will be held on December 22, 2014, inter alia, to consider and note status of transaction related to stake sale in the Autoline Industries Inc. USA, a wholly owned subsidiary of the company,” Autoline Industries said in a regulatory filing.
The counter has seen huge surge in trading volumes with a combined 1.26 million shares changed hands till 1520 hours and there are pending buy orders for 71,761 shares on BSE and NSE.