Jindal Poly Films Gains 2% After Acquiring Shares Of Jindal India Solar Energy

Jindal Poly Films Share Price: On Friday, Jindal Poly Films opened on the BSE at Rs 950, swinging to an intra day high of Rs 985.45 and an intra day low of Rs 950, so far.

Share price of Jindal Poly Films gained around two per cent on Friday, August 27, after the company acquired 100 per cent shares of Jindal India Solar Energy. On Friday, Jindal Poly Films opened on the BSE at Rs 950, swinging to an intra day high of Rs 985.45 and an intra day low of Rs 950, in the trading session so far. Upon acquiring 100 per cent shares, Jindal India Solar Energy is now a wholly-owned subsidiary of the company. The cost of acquisition or the price at which the shares are acquired is Rs 5 lakhs, according to a regulatory filing by Jindal Poly Films to the stock exchanges yesterday. Jindal India Solar Energy was incorporated on December 17, 2020, and was known as Jindal Plastic Films Limited. The name was changed to Jindal India Solar Energy at a later stage. Ever since its establishment, Jindal India Solar Energy has not done any business, so its turnover is nil, according to the exchange filing.  The company belongs to the renewable/solar energy industry. Jindal Poly Films seeks to do more business in the renewable energy sector so it acquired 100 per cent shares of the company.