Jost`s Engineering Company rises on investing Rs 12.37 lakh in wholly owned subsidiary in USA
Jost's Engineering Company is currently trading at Rs. 426.00, up by 3.05 points or 0.72% from its previous closing of Rs. 422.95 on the BSE.
The scrip opened at Rs. 430.00 and has touched a high and low of Rs. 437.95 and Rs. 420.00 respectively. So far 1574 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.40 on 15-Jun-2023 and a 52 week low of Rs. 156.90 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 459.90 and Rs. 419.00 respectively. The current market cap of the company is Rs. 203.30 crore.
The promoters holding in the company stood at 49.48%, while Institutions and Non-Institutions held 0.06% and 50.46% respectively.
Jost's Engineering Company has invested $15,000 equivalent Rs 12.37 lakh for acquiring 15000 Equity shares of Josts Engineering Inc. in USA, wholly owned subsidiary of the Company, on June 20, 2023.
Earlier, the company had received an approval for investment of Rs 50 lakh by way of subscription/acquisition of equity of Josts Engineering Inc., wholly owned subsidiary of the Company, in one or more tranches. The Board of Directors of the Company, at its Meeting held on November 14, 2022, inter-alia, approved the same.
Jost's Engineering Company operates in three divisions, including material handling division, industrial finishing division and engineered products division.
