Asian Granito India gains on acquiring additional stake in Amazoone Ceramics
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Asian Granito India is currently trading at Rs. 49.20, up by 0.40 points or 0.82% from its previous closing of Rs. 48.80 on the BSE.
The scrip opened at Rs. 48.99 and has touched a high and low of Rs. 49.50 and Rs. 48.25 respectively. So far 33731 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 70.05 on 06-Sep-2022 and a 52 week low of Rs. 34.22 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 49.94 and Rs. 45.56 respectively. The current market cap of the company is Rs. 622.95 crore.
The promoters holding in the company stood at 29.02%, while Institutions and Non-Institutions held 1.20% and 69.79% respectively.
Asian Granito India has purchased remaining 33,000 equity shares of Amazoone Ceramics (Amazoone), Material Subsidiary of the Company from other Existing Shareholders, which would result in increase in Company’s stake in Amazoone from 99.89% to 100%. Accordingly, Amazoone Ceramics has become a wholly owned material subsidiary of the company.
The objective of purchase is to further consolidate shareholding of the Company in Amazoone which will enable the Company to effectively control the business operations of Amazoone.
Asian Granito India is one of the top four Indian ceramic Companies engaged in the business of manufacturing, and trading of Ceramic Wall, Floor, Vitrified Tiles, Marble & Quartz Headquartered in Gujarat.
