Race Eco Chain Step-Down Unit Receives INR20 Million Investment; Shares Slip 3%
Race Eco Chain (NSE:RACE, BOM:537785) said its subsidiary Ganesha Recycling Chain invested 20 million rupees in GEM Polymers, a step-down subsidiary of the company, according to a Tuesday filing on Indian bourses.Shares of Race Eco Chain fell nearly 3% in Wednesday's trade.As part of the investment, Ganesha Recycling Chain has received 200,000 shares, or a 49% stake, in GEM Polymers.