Maximus International gains as its arm to acquire 49% stake in Quantum Lubricants
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Maximus International is currently trading at Rs. 463.75, up by 3.85 points or 0.84% from its previous closing of Rs. 459.90 on the BSE.
The scrip opened at Rs. 462.60 and has touched a high and low of Rs. 463.75 and Rs. 462.00 respectively. So far 15388 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.75 on 21-Sep-2022 and a 52 week low of Rs. 86.25 on 09-May-2022.
Last one week high and low of the scrip stood at Rs. 463.75 and Rs. 417.00 respectively. The current market cap of the company is Rs. 578.19 crore.
The promoters holding in the company stood at 63.63 % while Non-Institutions held 36.37% stake in the company.
Maximus International’s Kenya-based wholly owned subsidiary -- MX Africa (MXAL) has entered into SPA to acquire the remaining 49% stake in the Kenya-based Quantum Lubricants (QLL). Earlier, in 2019, MXAL had acquired a 51% equity stake in QLL which paved its entry into lubricant manufacturing in the African markets. With the ongoing acquisition of the 49%, MXAL will take total control over QLL’s entire operations.
Maximus International is primarily engaged in the business of importing and exporting lubricant oils, different types of base oils and other chemical products used mainly in the Automobile Industry, Power Industry and Metal manufacturing among others.
