Aditya Birla Nuvo acquires 3.58 Mn shares of Birla Sun Life Distribution Company
2009 March 31
Aditya Birla Nuvo has acquired 35,87,500 equity shares constituting 50.0001% of the paid up capital of Birla Sun Life Distribution Company Ltd (BSDL) held by Sun Life (India) Distribution Investments Inc, Canada and therefore BSDL has become a wholly owned subsidiary of the company. This will bring synergy and synchronization in the business of Broking & Distribution in the financial services.The stock has reacted to the development and is trading up. The stock touched an intra day high of Rs 451 and an intra day low of Rs 437 and at 13:24 PM, the share was quoting at Rs 447.15, up Rs 13.85, or 3.20%, trading with volumes of 7,048 shares, compared to its 5-day average of 90,291 shares, an decrease of -92.19%
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