Metro Brands rises on acquiring 100% stake in Cravatex Brands
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Metro Brands is currently trading at Rs. 845.05, up by 4.40 points or 0.52% from its previous closing of Rs. 840.65 on the BSE.
The scrip opened at Rs. 860.00 and has touched a high and low of Rs. 870.00 and Rs. 839.55 respectively. So far 11847 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 980.00 on 06-Oct-2022 and a 52 week low of Rs. 426.10 on 22-Dec-2021.
Last one week high and low of the scrip stood at Rs. 870.00 and Rs. 823.05 respectively. The current market cap of the company is Rs. 22931.77 crore.
The promoters holding in the company stood at 74.25%, while Institutions and Non-Institutions held 8.01% and 17.74% respectively.
Metro Brands has acquired 100% shareholding of Cravatex Brands, a company engaged in the business of importing, trading, selling, marketing, advertising, retailing and distribution of footwear, apparel and accessories under various brands including ‘FILA’ and ‘Proline’.
Earlier, the company had signed a share purchase agreement to acquire 100% shareholding of Cravatex Brands, to expand its presence in the sports and athleisure space in India.
Metro Brands is one of the largest Indian footwear speciality retailers and is amongst the aspirational Indian brands in the footwear category.
