Centum Electronics to increase stake in Centum Adetel Group SA to 77.16%; Stock slips over 6% post Q3

15 Feb 2022 , 12:26 PM

During the financial performance announcement for the quarter ending December 2021 (Q3FY22), Centum Electronics board of directors have approved the proposal to increase its stake in Centum Adetel Group SA.

With the proposed investment, Centum Electronics Limited (the Company) stake in CAG will increase from the current level of 64.66% to 77.16%.

Further, the above investment will be done through Centum Electronics UK Limited, a wholly-owned subsidiary of the Company, subject to necessary approvals.

At around 12.23 pm, Centum Electronics was trading at Rs460.05 per piece down by 6.19% on BSE. The stock has touched an intraday high and low of Rs499 per piece and Rs452.80 per piece respectively.