Mcleod Russel acquires stake in Gisovu Tea; stk up

MUMBAI – Mcleod Russel India’s wholly owned subsidiary Borelli Tea Holdings has acquired 60% shares of Rwanda-based Gisovu Tea Company. “The official communication and the procedures for completion of the transaction are awaited,” the company said in a statement to exchanges.

The stock was at Rs 219, up 1.74 per cent on the BSE. It touched a high of Rs 221 and low of Rs 213.50 in trade so far. Around 38,000 shares were traded in the counter.