India's Jindal Poly Films hits record high on Brookfield investment

Jindal Poly Films

17/03/2022 04:15

** Flexible plastic films maker's shares  JPLY.NS  jump as
much as 13.3% to touch a record level of 1,449 rupees
    ** Brookfield Asset Management  BAMa.TO  to invest 20
billion rupees ($262.97 million) in Jindal Poly Films' packaging
films business  urn:newsml:reuters.com:*:nNDL8HR3xg
    ** The deal will result in JPLY carving out its packaging
films business into a separate unit in which Brookfield will
hold a minority stake of 25%
    ** Co's packaging films business generates about 85% of
total revenue
    ** JPLY will continue to own its non-woven business unit,
other corporate assets
    ** Including session's gains, stock is up more than 28% for
the year

($1 = 76.0550 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))