New Delhi, April 28 -- Multibagger penny stock Servotech Renewable Power System witnessed strong buying action in trade on Monday, April 28, after it informed exchanges that it has incorporated Dream League of India as a subsidiary.

". We hereby inform the Stock Exchange that Dream League of India (T10) Private Limited has been incorporated as a Wholly-Owned Subsidiary of Servotech Sports and Entertainment Private Limited, which is a subsidiary of Servotech Renewable Power System," said the company in a filing.

Dream League of India, which belongs to the sports and entertainment space, is yet to commence its operations. Describing the rationale behind the deal, the company said that the acquisition will help carry on the business of ope...