Indian Card Clothing Company jumps on getting nod to acquire 40% stake in Garnett Wire, UK
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Indian Card Clothing Company is currently trading at Rs. 274.00, up by 22.45 points or 8.92% from its previous closing of Rs. 251.55 on the BSE.
The scrip opened at Rs. 251.50 and has touched a high and low of Rs. 276.70 and Rs. 250.05 respectively. So far 14069 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 329.65 on 10-May-2022 and a 52 week low of Rs. 155.35 on 01-Jul-2021.
Last one week high and low of the scrip stood at Rs. 256.35 and Rs. 222.60 respectively. The current market cap of the company is Rs. 164.39 crore.
The promoters holding in the company stood at 67.33%, while Institutions and Non-Institutions held 0.03% and 32.64% respectively.
Indian Card Clothing Company has received an approval for the proposal of acquiring balance 40% equity stake in Garnett Wire, UK - foreign subsidiary of the Company, from the Joint Venture Partner - Joseph Sellers & Son. The Board of Directors of the Company in its meeting held on June 27, 2022 has considered and approved the same.
The Indian Card Clothing Company is a precision engineering company that manufactures and supplies card clothing products and carding solutions for the textile industry.
