RattanIndia Enterprises stock hits 5% upper circuit post Q4 numbers

There were no sales reported during the previous quarter ended March 2020.

Jun 21, 2021 10:06 IST India Infoline News Service

RattanIndia Enterprises reported a net loss of Rs0.22cr in the quarter ended March 2021 as against a net loss of Rs157.18cr during the previous quarter ended March 2020.

Sales reported to Rs0.10cr in the quarter ended March 2021. There were no sales reported during the previous quarter ended March 2020.

The stock is currently trading at Rs6.03, up by Rs0.28 or 4.87% from its previous closing of Rs5.75 on the BSE. The scrip opened at Rs5.89 and has touched a high and low of Rs6.03 and Rs5.88 respectively.

Further, the company said in the filing that it has acquired 1.02 lakh equity shares of RattanIndia Investment Manager Private Limited, representing 100 per cent of its paid-up capital

After this acquisition, RattanIndia Investment Manager Private became a wholly-owned subsidiary of REL. REL added further the company will do investment management business through the investee company. This was all-cash consideration, which has been completed as it did not need regulatory approval. REL purchased the shares for Rs25,000.

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