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Forbes -; Company hits 52-week high post incorporation of wholly-owned subsidiary

16 Aug 2022 , 10:54 AM

Forbes & Company Ltd hits 52-week high on Tuesday's trading session as it has informed that the Board of Directors of the Company at their meeting held on August 13, 2022 have approved in principle, a proposal to incorporate a wholly owned subsidiary to inter-alia deal in current and new technologies in existing range of its businesses.
As per the filing, the Company would subscribe to initial capital/shares to be issued under rights issue. The Company would infuse up to Rs5 lakhs in Share Capital in one or more tranches.

At around 10:49 AM, Forbes & Company was currently trading at Rs595 per share up by Rs78.25 or 15.14% from its previous closing of Rs516.75 per share on the BSE. The stock hits 52-week high at Rs620.10 per share on the BSE platform today.

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