Moneycontrol
Oct 12, 2017 09:40 AM IST | Source: Moneycontrol.com

Precision Camshafts up 4% on acquisition of MEMCO Engineering

The said acquisition doesn't require governmental or regulatory approvals.

Precision Camshafts up 4% on acquisition of MEMCO Engineering

Moneycontrol News

Shares of Precision Camshafts added 4 percent intraday Thursday as it has acquired Nashik-based company.

The company in its board meeting held on October 10, has considered and approved the acquisition of MEMCO Engineering.

The company has acquired 95 percent in MEMCO Engineering for an undisclosed sum.

The procedural acquisition formalities will be completed immediately from the date of execution of necessary agreements.

The said acquisition doesn't require governmental or regulatory approvals.

MEMCO Engineering is dealing in all types of engineering goods and engineering components.

At 09:36 hrs Precision Camshafts was quoting at Rs 116.10, up Rs 1.55, or 1.35 percent on the BSE.

The share has given negative return of 27 percent in the last 9 months.

Posted by Rakesh Patil
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