Mumbai: Cement manufacturer ACC on Tuesday said it has divested its entire stake in its subsidiary ACC Machinery Company to diesel engine manufacturer HNG Group at Rs45 crore.
The company informed the Bombay Stock Exchange about the sale of its wholly-owned subsidiary.
The company further said ACC Machinery’s net profit for the year ended 31 December, 2007 was Rs9.75 crore and the total income was 63.24 crore.
AMCL had also paid a dividend of Rs190 per share aggregating to Rs7.60 crore, it said.
Shares of the company were trading at Rs785, up 2.33% on the BSE in the afternoon trade.