India Motor Parts & Accessories acquires 90% stake in CAPL Motor Parts for Rs45million

The company has completed the acquisition of 90% stake in CAPL Motor Parts Private Ltd for Rs45mn.

Nov 30, 2017 09:11 IST India Infoline News Service

The company, through its filing on BSE, has informed that it has acquired 90% stake in CAPL Motor Parts Private Ltd for Rs45million.

Post-acquisition, CAPL Motor Parts Private Ltd has become the subsidiary of the company. The acquisition will help the company to further expand its volumes and earnings from the business.

Indian Motor Parts & Accessories (IMPAL) is part TVS Group is engaged in the distribution of automobile spare parts and accessories through its 50 plus branch network representing over 60 manufactures. The promoter group holds 30.72% of the equity as on March 31, 2017.

IMPAL is one of the few all India distributors of motor parts and deals in engine group components, brake systems, fasteners, radiators, suspensions, axles, auto electricals, wheels, steering linkages, instruments clusters etc.

The stock is opened at a pre-opening price of Rs 1080, up by 8% on BSE at 9.10am. India Motor Parts & Accessories Ltd is currently trading at Rs 1000.05, up by Rs 0.9 or 0.09% from its previous closing of Rs 999.15 on the BSE. The scrip opened at Rs 1080 and has touched a high and low of Rs 1080 and Rs 1000.05 respectively. The stock is currently trading above its 50 DMA.

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