Company news: Rico Auto

Rico Auto Industries Ltd’s subsidiary company Rico Fluidtronics Ltd informed the bourses that it has acquired 95 lakh shares at par representing 20 per cent stake in the paid-up equity share capital of Rico Jinfei Wheels Ltd (RJWL), a step-down subsidiary. Post acquisition, the company through its two subsidiaries, Rico Investments and Rico Fluidtronics, will hold 94.79 per cent stake in the equity share capital of RJWL. Shares of Rico Auto closed 0.83 per cent lower at ₹29.85 on the BSE.