Accel Frontline Locked At 5% Upper Circuit On Stake Sale

Completing the sales of its entire stake in Singapore-based Accel Systems & Technologies to StarHub, Accel Frontline got locked at a 5% upper circuit quoting Rs 52.80 during Tuesday's trading session.

The stock had pending buying orders of over 15,000 shares, with no sellers in the market.

While the completion of stakes sale, Accel Systems ceased to be the subsidiary of Accel Frontline. The board of director of the company had approved the stakes sale in a board meeting on March 1, 2017.

The subsidiary company had reported a total revenue of Rs 75.56 crore for the fiscal year ended March 2016, constituting 14.73% of the total consolidated revenue of the company.

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