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Exxaro Tiles board nods incorporation of wholly-owned subsidiary; Stock dips

The proposed wholly owned subsidiary company to be incorporated in India shall carry out business in the field of Ceramic Industries.

October 28, 2021 12:02 IST | India Infoline News Service
Stock Market Trader, Stock Trader, Trading
Exxaro Tiles Ltd has informed that the Board of Directors have approved incorporation of a wholly owned subsidiary of the company.

The incorporation of the wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the Company in becoming more agile and customer-focused, said company in a regulatory filing.

Further, the name of the subsidiary is Exxaro Ceramic Limited, or any other names as may be approved by Ministry of Corporate Affairs. The Proposed Authorized Capital is Rs1,00,000 (Rupees one lakh only).

The proposed wholly owned subsidiary company to be incorporated in India shall carry out business in the field of Ceramic Industries.

On Thursday, at around 12:02 PM, Exxaro Tiles was trading at Rs151.50 apiece down by 0.26% on the BSE.

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