Lakshmi Machine Works gains on incorporating wholly owned subsidiary company
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Lakshmi Machine Works is currently trading at Rs. 7087.70, up by 28.90 points or 0.41% from its previous closing of Rs. 7058.80 on the BSE.
The scrip opened at Rs. 6813.30 and has touched a high and low of Rs. 7152.70 and Rs. 6767.75 respectively. So far 1013 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 7850.00 on 16-Mar-2021 and a 52 week low of Rs. 2001.00 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 7850.00 and Rs. 6767.75 respectively. The current market cap of the company is Rs. 7510.15 crore.
The promoters holding in the company stood at 31.11%, while Institutions and Non-Institutions held 16.12% and 52.77% respectively.
Lakshmi Machine Works has incorporated a wholly owned subsidiary company named ‘LMW Aerospace Industries’ on March 16, 2021. Incorporation of a wholly owned subsidiary is to enable selective focus upon Company's aerospace related activities.
Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. The company caters to both domestic and international markets.
