Kajaria Ceramics soars on getting nod to acquire 51% stake in South Asian Ceramic Tiles
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Kajaria Ceramics is currently trading at Rs. 1104.00, up by 31.00 points or 2.89% from its previous closing of Rs. 1073.00 on the BSE.
The scrip opened at Rs. 1088.60 and has touched a high and low of Rs. 1109.65 and Rs. 1058.55 respectively. So far 5551 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1379.00 on 19-Jan-2022 and a 52 week low of Rs. 886.05 on 09-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1109.65 and Rs. 985.15 respectively. The current market cap of the company is Rs. 17510.80 crore.
The promoters holding in the company stood at 47.50%, while Institutions and Non-Institutions held 41.98% and 10.52% respectively.
Kajaria Ceramics has received approval to acquire 51% equity shares of South Asian Ceramic Tiles, Hyderabad, Telangana (South Asian) at a consideration upto Rs 28.50 crore and accordingly, South Asian will become a subsidiary of the Company, on completion of the above acquisition by the Company. The main aim of acquisition is to have a foothold in South India thereby enlarging the tiles markets to make more dealers and even to cater small size dealers, by reducing the transit time and by increasing the rotation of re-ordering by the dealers of the Company.
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India.
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