 "Asian Paints gains after consolidating investments in overseas units")
Shares of Asian Paints have rallied 1.2% to Rs 850.45 on the Bombay Stock Exchange (BSE) after its overseas subsidiary Asian Paints (International) Ltd has transferred its entire holding in Asian Paints (Vanuatu) Ltd to Berger ltd.
In a filing to the BSE, APIL has announced that it is transferring its entire holding of 60% to Singapore based Berger International Private Ltd, a wholly owned subsidiary of APIL.
The transfer of the stake is a part of APIL’s plan to consolidate its investment in overseas subsidiary.
The stock opened at Rs 842 and hit a high of Rs 850.50. At 10 am, a combined total of 93,945 shares changed hands on the counter of BSE and NSE.
