Financial Technologies scrip gains more than 4% intraday on NBHC stake sale

Mar 18 2014, 13:28 IST
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'Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement' (AP) 'Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement' (AP)
Summary'Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement'

Shares of Financial Technologies gained more than 4% intraday on Tuesday after the company in an exchange note said that it would be selling its entire stake in National Bulk Handling Corporation (NBHC) for a consideration of Rs 241.74 crore.

"Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement for sale of 100% equity ownership in NBHC for Rs 241.74 crore," the company disclosed in the exchange filing on Tuesday.

The note further added that the transaction is likely to be completed between April 15 and April 30, subject to the shareholders' approval through postal ballot. The scrip was trading 2.78% higher at Rs 371 on the BSE.

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