Tainwala Group eyes greater returns from Samsonite JV
Speaking to CNBC-TV18, Rakesh Tainwala, director of Tainwala Group, said that the company hopes that its joint-venture with Samsonite International will fetch good returns.
June 03, 2011 / 17:31 IST
Luggage-maker Samsonite Hong Kong, a subsidiary of Samsonite International, recently raised USD 1.5 billion through an IPO. India-based Tainwala Chemicals holds about 10-12% in Samsonite South Asia, the Indian arm of the parent firm.
Tainwala Group's stock has moved shapely in the past few days because it has a 40% stake in a joint-venture with Samsonite International for its South-Asian operations. Hence, valuations of Tainwala Chemicals & Plastics have become a matter of market interest.Speaking to CNBC-TV18, Rakesh Tainwala, director of Tainwala Group, said that the company hopes that its joint-venture with Samsonite International will fetch good returns.Did you miss? Tainwala Chem Mar '11 sales at Rs 3.33 crore
Below is a verbatim transcript of Rakesh Tainwala
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