Company news: TCI Express

TCI Express on Wednesday informed the exchanges that it is in the process of acquiring a stake in Uketoru Co, Japan, which is an express B2C technology company. TCI Express will acquire 7.70 per cent of the total share capital of the investee company for 20 million Yen. The acquisition is a strategic investment for business growth of the company, it said, and added that the acquisition is not a related party transaction. The turnover of Uketoru for the year ended March 31, 2018, was 13,65,635 Yen. Shares of TCI Express closed 0.76 per cent higher at ₹738.35 on the BSE.