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Hindustan Inks: Shuffling of stakes

THE acquisition of stakes by a private company in Hindustan Inks and Resins may leave the valuation of the stock unaffected.

Under the proposed arrangement, Bilakhia Holdings Pvt Ltd (BHPL) is to acquire 92,64,160 equity shares accounting for 67.81 per cent of the equity. Since this would be a transfer of shares inter-se among promoters, the open offer requirement under the SE BI takeover code would not be attracted. The stock, which has gained around 10 per cent in recent trading, may be range-bound at around the current levels. BL Research Bureau