Birla Cable hits new high on plans to establish new subsidiary in Dubai Multi Commodity Zone

The WOS of the company will carry out Liaisoning, Business Development, processes for getting the end customer’s approvals.

Jun 21, 2021 11:06 IST India Infoline News Service

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The Board of Directors of Birla Cable Limited has given approval for establishing a wholly-owned subsidiary of the company in Dubai Multi Commodity Zone, Dubai.

The new company is to be incorporated as a wholly-owned subsidiary to carry out Liasioning, Business Development, processes for getting the end customer’s approvals, Tender participation and MIS generation to win business in the parent company’s favour. The indicative time period for completion of the acquisition is 2 months.

Birla Cable Limited was the hot stock on Monday, hitting new high of Rs104.80 per piece during early trade.

At around 11.17 AM, the company's each stock was trading at Rs102.35 per piece up Rs12.85 or 14.36% on the BSE.

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