UPDATE 1-Time Technoplast buys 74 pct in NED Energy

Newswire

(Adds price, share price) MUMBAI, Oct 1 (Reuters) - Polymer products maker Time Technoplast Ltd said on Monday it has bought a 74 percent stake in unlisted battery maker NED Energy Ltd for about 503 million rupees. NED's enterprise value is estimated at 650 million rupees and Time Technoplast has the option of buying out the balance 26 percent from the promoters, it said in a statement. NED, which makes valve-regulated lead-acid battery, expects substantial growth in sales and profits ...

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