Kranti Industries surges on acquiring 55% stake in Preciso Metall
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Kranti Industries is currently trading at Rs. 69.98, up by 0.45 points or 0.65% from its previous closing of Rs. 69.53 on the BSE.
The scrip opened at Rs. 72.00 and has touched a high and low of Rs. 72.00 and Rs. 68.80 respectively. So far 2578 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.70 on 06-Sep-2022 and a 52 week low of Rs. 42.00 on 18-Apr-2022.
Last one week high and low of the scrip stood at Rs. 72.54 and Rs. 66.02 respectively. The current market cap of the company is Rs. 73.92 crore.
The promoters holding in the company stood at 74.34%, while Non-Institutions held 25.66% stake in the company.
Kranti Industries has completed the acquisition of 55% Equity Shares i.e. 31,98,205 number Equity Shares of Rs 10 each of the Preciso Metall on April 11, 2023. With this, Preciso Metall became a subsidiary Company of Kranti Industries. The objective of acquisition is to expand in new line of business by exploring resources, and to access new market opportunities by establishing a strategic partnerships or alliances with Preciso Metall in area of shell, moulding, casting and other allied sector.
Kranti Industries is engaged in the business of manufacturing and supplying of precision machined components.
