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Chambal Fertilisers down 1% as downstream subsidiary voluntary wind-up its biz

12 July, 2018 9:33 AM
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Chambal Fertilisers down 1% as downstream subsidiary voluntary wind-up its biz

Shares of Chambal Fertilisers and Chemicals fell 1.5 percent intraday Thursday as its downstream subsidiary approved voluntary winding up of the company.

Inuva Info Management is a subsidiary of ISG Novasoft Technologies which is downstream subsidiary of Chambal Fertilisers, accordingly, Inuva is a downstream subsidiary of the company.

Board of directors of Inuva has approved voluntary winding up under the provisions of Insolvency and Bankruptcy Code, 2016 subject to approval of shareholders and other requisite approvals.

At 14:51 hrs Chambal Fertilisers and Chemicals was quoting at Rs 152.15, down Rs 1.80, or 1.17 percent.

Also read: Volatile market ends 1% higher, but 8 stocks gave 8-29% return last week

Source: moneycontrol.com

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