Stocks

Jyothy Lab board approves subsidiary merger

| Updated on January 20, 2018 Published on May 23, 2016

The board of directors of Jyothy Laboratories has approved the merger of subsidiary Jyothy Consumer Products Marketing (JCPM) with itself. In a notification to the stock exchanges, Jyothy Laboratories said JCPM is engaged in manufacturing and trading of detergents, soaps, and other cleaning products. As on March 31, the wholly-owned subsidiary’s turnover was ₹71.50 crore. No cash consideration or issue of new shares was involved in the merger, the company said. Shares of Jyothy Laboratories closed down 3 per cent at ₹298.35 on the NSE.

Published on May 23, 2016
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