Emami zooms on investing Rs 4.50 crore in Cannis
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Emami is currently trading at Rs. 398.75, up by 17.50 points or 4.59% from its previous closing of Rs. 381.25 on the BSE.
The scrip opened at Rs. 386.95 and has touched a high and low of Rs. 403.00 and Rs. 384.05 respectively. So far 16088 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 524.95 on 26-Sep-2022 and a 52 week low of Rs. 340.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 403.00 and Rs. 371.05 respectively. The current market cap of the company is Rs. 17478.70 crore.
The promoters holding in the company stood at 54.27%, while Institutions and Non-Institutions held 37.93% and 7.80% respectively.
Emami has invested Rs 4.50 crore by way of subscription to the Compulsory Convertible Preference Shares of ‘Cannis Lupus Services India’ (Cannis), its associate company. Investment is in line with Emami’s strategy and to meet the business requirements of Cannis. Emami will hold 100% of CCPS of Cannis. Presently, Emami is holding 30% Equity Share Capital of Cannis.
Emami is the flagship company of the Emami Group and engaged in manufacturing products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products.
