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Kolkata-based Warren Tea Ltd acquired an 8.52 per cent stake in Pressman Advertising Ltd through open market purchases, the company said in a filing with the Bombay Stock Exchange.
Warren Tea picked up two million shares of the target company at Rs 35 a share for Rs seven crore.
Shares of Warren Tea were down 3.28 per cent at Rs 149 on the Bombay Stock Exchange, at around 1230 hours on February 6.
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Shares of Pressman Advertising were down 4.5 per cent at Rs 33.90.
