Announced Mon, 17 Aug · 19:04 IST
Board approves 50:50 joint venture in paper and specialty paper business
Price
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Price reaction · full curve 14 horizons · vs prior close
+0.8%1-day move
₹148.05
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+0.8+2.7+2.7———————
Up moveDown movePending
AI summary
True Colors board approved forming a 50:50 joint venture company named True Colors Advance Materials Private Limited with identified partners for paper and specialty paper manufacturing, processing, coating, converting and marketing. Cash consideration at Rs 10 per share. JV to be incorporated within 60 days. Also re-appointed Internal and Cost Auditors for FY27, and appointed Secretarial Auditor for 5 years from FY27 to FY31.
Likely market impact
JV expands company into paper and specialty paper products with shared investment, potentially adding a new revenue stream.