Photoquip India slips 9%

The company plans to hive-off its general LED lighting division.

Mar 23, 2015 11:03 IST India Infoline News Service

Photoquip India has touched a high of Rs. 30.65 on the BSE on plans of divestment.

According to a release issued by Photoquip India to the BSE, company's board at its meeting on 20 March, 2015, has decided to discontinue the business of LED lights with immediate effect by way of not accepting any fresh orders and to complete the backlog of pending orders at the earliest.

The board also decided to look for prospective buyers to dispose off the division on the terms and conditions that are in the best interest of the company, the release added.

At 11:13 AM, the stock were trading down 8.6% at Rs.28. The stock has hit a high of Rs.28 and a low of Rs27.60 on BSE today. The counter has seen trades of mere 159-odd shares so far in the day. Meanwhile, the Sensex is up 38 points at 28,299.

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