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ARSS Infrastructure Projects Ltd, a New Delhi based construction company, in a BSE statement has said that it has decided to transfer its 51 per cent holding in ARSS BUS Terminal Pvt Ltd to Welspun Enterprise Ltd, for setting a long standing dispute and litigation.
ARSS BUS Terminal Pvt Ltd is a subsidiary of ARSS Infrastructure, in which Welspun Enterprise Ltd is already holding 49 per cent stake. The transfer of shares to Welspun will not financially impact ARSS Infrastructure, the statement said.
At the closing of market hours on the BSE, the stock was traded at Rs 32.20, an increase of 11.42 per cent over previous closing price of Rs 28.90.
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