Elgi Equipments zooms on acquiring 6.55% stake in First Energy Tamil Nadu 1
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Elgi Equipments is currently trading at Rs. 399.60, up by 29.05 points or 7.84 % from its previous closing of Rs. 370.55 on the BSE.
The scrip opened at Rs. 376.95 and has touched a high and low of Rs. 402.30 and Rs. 374.10 respectively. So far 113318 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 422.70 on 08-Feb-2022 and a 52 week low of Rs. 191.60 on 27-Aug-2021.
Last one week high and low of the scrip stood at Rs. 402.30 and Rs. 353.80 respectively. The current market cap of the company is Rs. 12589.21 crore.
The promoters holding in the company stood at 31.32%, while Institutions and Non-Institutions held 32.93% and 35.75% respectively.
Elgi Equipments has acquired 14,40,000 shares constituting 6.55% of paid up share capital in First Energy TN 1. The object of acquisition of 6.55% shareholding is to comply with the minimum shareholding requirement of 26% under the captive project rules along with other captive users. Cost of acquisition is Rs 1,44,00,000.
Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.
