Greaves Cotton surges as its arm acquires additional 25% stake in MLR Auto
Greaves Cotton is currently trading at Rs. 154.75, up by 3.35 points or 2.21% from its previous closing of Rs. 151.40 on the BSE.
The scrip opened at Rs. 151.75 and has touched a high and low of Rs. 155.75 and Rs. 151.75 respectively. So far 47612 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 184.50 on 08-Sep-2022 and a 52 week low of Rs. 118.70 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 164.80 and Rs. 148.20 respectively. The current market cap of the company is Rs. 3586.31 crore.
The promoters holding in the company stood at 55.74%, while Institutions and Non-Institutions held 8.77% and 35.49% respectively.
Greaves Cotton’s subsidiary -- Greaves Electric Mobility (GEMPL) has completed the acquisition of an additional 25% shareholding in MLR Auto (MLR) through primary subscription. GEMPL now holds 51% of the shareholding (on a fully diluted basis) in MLR. With this, MLR has become a subsidiary of GEMPL with effective from May 16, 2023.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.
