DCM Shriram gains as Axiall LLC acquires 50% stake in SVPPL - The New Indian Express

DCM Shriram gains as Axiall LLC acquires 50% stake in SVPPL

Published: 17th April 2014 01:19 PM

Last Updated: 17th April 2014 01:19 PM

DCM Shriram, company with interests mainly in chemicals and agribusiness, gained on Thursday after Axiall LLC invested Rs 346.5 million to acquire 50% in Shriram Vinyl Polytech (SVPPL), a 100% subsidiary of the company after receiving all regulatory approval.

SVPPL is now 50:50 joint ventures between Axiall LLC, USA (a subsidiary of Axiall Corporation) and DCM Shriram.Shares ofthe companyare trading at Rs 88, up Rs 1.6, or 1.85% at the Bombay Stock Exchange (BSE) on Thursday at 11:22 a.m.The scrip has touched an intra-day high of Rs 88.25 and low of Rs 87. The total volume of shares traded at the BSE is 5,125.In the earlier session, the shares declined 0.86%, or Rs 0.75, at Rs 86.40. Currently, the stock is trading down 7.85% from its 52-week high of Rs 95.50 and above 74.6% over the 52-week low of Rs 50.40.

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