Sigachi Industries incorporates wholly-owned subsidiary in Dubai; Stock up 2.5%

15 Jun 2022 , 10:17 AM

Sigachi Industries Ltd has informed to the exchanges that the Company has incorporated a wholly owned subsidiary in Dubai, UAE, under the name of “SIGACHI MENA FZCO” as a Free Zone Company in compliance with the regulations issued by the Dubai Integrated Economic Zones Authority (DIEZA).

As per the filing, the scope of business to be carried out by the subsidiary shall be discussed in the ensuing board meeting and the same shall be intimated to the stock exchanges, said the company on Tuesday.

On Wednesday at around 10:19 AM, Sigachi Industries was trading at Rs263 per share up by Rs6.55 or 2.55% from its previous closing of Rs256.45 per share on the BSE.