Will Weizmann stake buy in NBFC pay off?

Shares of Weizmann will remain in focus following it picking up a stake in RBI-registered NBFC Tapi Energy Projects (TEPL). Weizmann has acquired three lakh non-convertible non-cumulative preference shares of ₹100 each of TEPL, which reported a loss of ₹1.55 crore for FY16. The objective of the acquisition is “investment of surplus funds”, said Weizmann. With this, it holds 35.35 per cent of the total paid-up capital of TEPL. Investors will monitor the development.