ISMT trades higher on getting nod to acquire Adicca Energy Solutions
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ISMT is currently trading at Rs. 75.84, up by 0.86 points or 1.15% from its previous closing of Rs. 74.98 on the BSE.
The scrip opened at Rs. 75.97 and has touched a high and low of Rs. 77.90 and Rs. 72.10 respectively. So far 54454 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 88.49 on 10-Mar-2023 and a 52 week low of Rs. 45.40 on 18-Nov-2022.
Last one week high and low of the scrip stood at Rs. 77.90 and Rs. 70.00 respectively. The current market cap of the company is Rs. 2296.73 crore.
The promoters holding in the company stood at 74.95%, while Institutions and Non-Institutions held 0.15% and 24.90% respectively.
ISMT has received approval for acquisition of Adicca Energy Solutions. The objective of acquisition is to acquire requisite approvals for grid connectivity/ connection in relation to power generation via solar energy for captive consumption for all the manufacturing plants of the company. The Board of Directors at its meeting held on May 03, 2023, inter alia, considered and approved the same.
ISMT is predominantly engaged in the manufacturing of specialty alloy and bearing Steel.
