GRP gains after disposing 50% stake in Marangoni GRP
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GRP is currently trading at Rs. 1320.00, up by 14.80 points or 1.13% from its previous closing of Rs. 1305.20 on the BSE.
The scrip opened at Rs. 1336.50 and has touched a high and low of Rs. 1336.50 and Rs. 1316.00 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1600.60 on 21-Jan-2022 and a 52 week low of Rs. 875.00 on 13-Sep-2021.
Last one week high and low of the scrip stood at Rs. 1338.35 and Rs. 1247.40 respectively. The current market cap of the company is Rs. 176.00 crore.
The promoters holding in the company stood at 41.58%, while Institutions and Non-Institutions held 0.03% and 58.39% respectively.
GRP has disposed its holding of 50% of equity shares in its Joint Venture company -- Marangoni GRP (MGPL). The company has received consideration of Euros 710,000 from such disposal. Earlier, the company had entered into a non -binding Memorandum of Understanding (MoU) with the Marangoni group, Italy for the sale of its equity shareholding in the Joint Venture company Marangoni GRP.
GRP is among the most recognized manufacturer of reclaimed rubber from used tyres, upscaled polyamide from nylon waste and engineered products die-cut from end-of- life tyres.
