Inox Wind gains after arm acquires Sarayu Wind Power

Inox Wind Infrastructure Services Ltd has acquired 100% equity stake in Sarayu Wind Power (Tallimadugula) Pvt Ltd

Shares of Inox Wind were up over 1% on the Bombay Stock Exchange after the company said that its wholly-owned subsidiary Inox Wind Infrastructure Services Ltd has acquired 100% equity stake in Sarayu Wind Power (Tallimadugula) Private Ltd, with effect from December 09, 2015.

Following the 100% acquisition by its arm, Sarayu Wind Power (Tallimadugula) Private Ltd has become step down subsidiary of Inox Wind Ltd, the company said in a release.

Further in accordance with the Company's Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information, the trading window for dealing in the securities of the Company will remain closed from December 09, 2015 till close of business hours on December 11, 2015, the release added.
 

The stock touched a high of Rs 357. At 10:05am, over 12,000 shares were traded on both the stock exchanges.