Elpro International zooms on acquiring stake in Manappuram Finance
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Elpro International is currently trading at Rs. 81.90, up by 5.16 points or 6.72% from its previous closing of Rs. 76.74 on the BSE.
The scrip opened at Rs. 78.00 and has touched a high and low of Rs. 83.00 and Rs. 78.00 respectively. So far 226455 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.25 on 08-Sep-2022 and a 52 week low of Rs. 53.00 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 83.00 and Rs. 67.25 respectively. The current market cap of the company is Rs. 1389.56 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 12.43% and 12.58% respectively.
Elpro International has acquired 3,00,000 equity shares of Manappuram Finance. The cost of acquisition is Rs 4.20 crore. Manappuram Finance is a Non-Banking Finance Company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc.
Elpro International is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world.
