Electrotherm may conclude stake sale of pipe arm this week

CNBC-TV18 learns from sources that Electrotherm India is likely to conclude stake sale of pipe business this week.

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CNBC-TV18 learns from sources that Electrotherm India is likely to conclude stake sale of pipe business this week. The deal size is likely to be in the range of Rs 700-1,000 crore.

Sources say the pipe business is been bought by a leading multinational glass manufacturer.

Electrotherm plans to use the sale proceeds for debt repayment. Its total debt stood at Rs 2,264 crore as on March 2011.

When contacted, the Electrotherm management refused to comment on the stake sale.

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Action in Electrotherm (India)

52 Week Low / Low
Electrotherm has hit 52wk low of Rs 16.55 on BSE May 17, 12:18
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 16.65 on BSE May 09, 12:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 17.15 on BSE May 08, 13:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 17.50 on BSE May 07, 11:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 17.60 on BSE May 06, 14:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 18.00 on BSE May 03, 15:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 18.00 on BSE May 02, 10:18
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 18.45 on BSE Apr 29, 11:22
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 19.05 on BSE Apr 26, 11:16
52 Week Low / Low
Electrotherm has hit 52wk low of Rs 19.25 on BSE Apr 25, 13:18
Technicals
Electrotherm closes above 30-Day Moving Average of 23.96 today. Apr 03

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Electrotherm may conclude stake sale of pipe arm this week

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