Cravatex surges on completing sale of 100% shareholding held in Cravatex Brands
Cravatex is currently trading at Rs. 423.90, up by 12.10 points or 2.94% from its previous closing of Rs. 411.80 on the BSE.
The scrip opened at Rs. 430.00 and has touched a high and low of Rs. 430.00 and Rs. 398.00 respectively. So far 175 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 543.80 on 28-Oct-2022 and a 52 week low of Rs. 300.10 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 420.00 and Rs. 385.10 respectively. The current market cap of the company is Rs. 109.54 crore.
The promoters holding in the company stood at 75.00%, while Non-Institutions held 25.00% in the company.
Cravatex has completed the sale/disposal of its 100% shareholding held in Cravatex Brands, a material subsidiary of the Company, to Metro Brands (along with its nominees) on December 1, 2022.
Earlier, the company had received an approval for the sale / transfer / disposal / divestment of its 100% shareholding held in Cravatex Brands (CBL), a material subsidiary of the Company, to Metro Brands, subject to approval of the Shareholders of the Company.
Cravatex imports and distributes products of various brands, such as Johnson, Horizon, Vision, Body Solid, and Magnum. The company also distributes sports shoes and apparels, tennis balls, tennis rackets, and massage chairs and accessories.
