Auto stock in focus as company approves 80% acquisition in subsidiary, check details
Technically, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Mumbai: Shares of Uttar Pradesh-based electrical equipment maker Pavna Industries are in focus as the company has informed exchanges that the board has approved the investment in the equity shares of the subsidiary company Pavna SMC Private Limited. According to the information shared with the exchanges, the board has approved the acquisition of an 80 per cent stake for a cash consideration of Rs 4,00,000, with the transaction expected to conclude by March 31, 2026, in a subsidiary. The incorporated company belongs to the…