ABC Bearings to sell stake in NSK-ABC Bearings Pvt Ltd

Release Time：20 Mar,2017

The Board of Directors of ABC Bearings Limited at its meeting held on 16 March 2017 has granted its approval for the sale of its entire 2.5% equity stake in NSK-ABC Bearings Pvt. Ltd.a company registered under the Companies Act, 1956 having its registered office at Plot No. A2, SIPCOT Growth Centre, Oragadam, Mathur Village, Sriperumbudur Taluk, Kancheepuram District, Tamil Nadu 602105, India to NSK India Sales Company Pvt. Ltd., a company registered under the Companies Act, 1956 having its registered office at 2nd Floor, Block I, TVH Beliciaa Tower, No. 7111, MRC Nagar Main Road, MRC Nagar, Chennai, Tamil Nadu 600028, India. Shares of ABC BEARINGS LTD.-$ was last trading in BSE at Rs.169 as compared to the previous close of Rs. 166.6. The total number of shares traded during the day was 2102 in over 52 trades. The stock hit an intraday high of Rs. 169.95 and intraday low of 165.65. The net turnover during the day was Rs. 354676.