India's Trident Ltd eyes best day in nearly 4-wks on acquiring unit

Trident

02/12/2022 06:05

** Shares of textile and paper manufacturer Trident Ltd
 TRIE.NS  rise as much as 5% to 37.90 rupees, their sharpest
intraday pct gain since Nov. 7
    ** Co to acquire 100% of Trident Home Textiles Ltd under
related-party transaction, making it wholly-owned 
    ** Co proposes the acquisition for implementing forward
integration of operations and consolidating international
business
    ** TRIE also ups its holding in textile co Trident Global
Inc to 73.5% with the addition of Trident Home Textiles' 24.5%
share
    ** More than 15.5 mln shares traded as of 11:07 a.m. IST,
2.2 times their 30-day moving avg of over 7 mln shares
    ** Shares down 32.3% YTD, as of last close
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))