Forbes & Company trades jubilantly on getting nod to incorporate wholly owned subsidiary
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Forbes & Company is currently trading at Rs. 683.55, up by 107.40 points or 18.64% from its previous closing of Rs. 576.15 on the BSE.
The scrip opened at Rs. 589.00 and has touched a high and low of Rs. 684.90 and Rs. 589.00 respectively. So far 99524 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 689.00 on 17-Aug-2022 and a 52 week low of Rs. 201.20 on 18-Aug-2022.
Last one week high and low of the scrip stood at Rs. 689.00 and Rs. 410.00 respectively. The current market cap of the company is Rs. 835.19 crore.
The promoters holding in the company stood at 73.85%, while Institutions and Non-Institutions held 12.49% and 13.66% respectively.
Forbes & Company has received approval to incorporate a wholly owned subsidiary to inter-alia deal in current and new technologies in existing range of businesses. The Board of Directors of the Company at their meeting to be held on August 13, 2022 has approved the same. The Company would subscribe to initial capital/shares to be issued under rights issue. The Company would infuse upto Rs 5 lakh in share capital in one or more tranches.
Forbes & Company has three main businesses; namely engineering, shipping and logistics and business automation.
