Linde India surges on acquiring 26% stake in Avaada Mhyavat
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Linde India is currently trading at Rs. 3510.90, up by 35.10 points or 1.01% from its previous closing of Rs. 3475.80 on the BSE.
The scrip opened at Rs. 3410.00 and has touched a high and low of Rs. 3519.05 and Rs. 3396.70 respectively. So far 6178 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4192.35 on 11-Apr-2022 and a 52 week low of Rs. 1503.50 on 21-Jun-2021.
Last one week high and low of the scrip stood at Rs. 3700.00 and Rs. 3396.70 respectively. The current market cap of the company is Rs. 29304.94 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 10.90% and 14.10% respectively.
Linde India has acquired 11,375,000 (26%) equity shares of Rs 10 each in Avaada Mhyavat. The company has invested a sum of Rs 11.40 crore in Avaada Mhyavat. The main aim of acquisition is to purchase of renewable power under captive mechanism, which will result in a lower tariff and consequent cost savings.
Linde India is engaged in manufacturing of industrial gases and undertaking engineering projects.
