Forbes & Company marginally up on selling over 78.41 lakh shares of Next Gen Publishing
Forbes & Company has received its board’s nod to sell 78,41,416 equity shares of Rs 10 each of a subsidiary company — Next Gen Publishing — to Shapoorji Pallonji & Company.
The scrip is currently trading at Rs 397.95 per share, up 3.30 points or 0.84% on BSE.
The stock opened at Rs 395 compared to its previous close of Rs 394.65. Intraday, the counter touched a high and a low of Rs 397.95 and Rs 392 respectively.
The stock of the face value of Rs 10 touched its 52-week high of Rs 618.80 on June 9, 2009 and a 52-week low of Rs 305.05 on March 30, 2009. Following this transaction, Next Gen Publishing will cease to be a subsidiary of the company.
Shapoorji Pallonji & Company is the ultimate holding company of Forbes & Company.
Forbes & Company is one of the oldest companies of world that is still in business. It has three main businesses, namely engineering, shipping and logistics and business automation.
The company reported a net loss of Rs 18.19 crore and revenue of Rs 37.26 crore during the September 2009 quarter.
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