Kaya surges 4% after board approve for investment in Singapore arm

The investment is for buyout of minority stake in Kaya Middle East FZC, a UAE-based subsidiary of KME Holdings.

Oct 24, 2017 04:10 IST India Infoline News Service

Shares of Kaya gained over 3% after the company's board approved the investment of up to Rs 51 crore in Singapore-based subsidiary KME Holdings.

The investment is for a buyout of a minority stake in Kaya Middle East FZC, a UAE-based subsidiary of KME Holdings.

Kaya Ltd is currently trading at Rs 935, up by Rs 31.6 or 3.5% from its previous closing of Rs 903.4 on the BSE.

The scrip opened at Rs 913 and has touched a high and low of Rs 943.05 and Rs 908.9 respectively. The stock is currently trading above its 100 DMA.

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