Mukand gains on executing SPA to sell 5.51% stake in Mukand Sumi Special Steel
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Mukand is currently trading at Rs. 141.35, up by 1.20 points or 0.86% from its previous closing of Rs. 140.15 on the BSE.
The scrip opened at Rs. 141.40 and has touched a high and low of Rs. 142.00 and Rs. 139.00 respectively. So far 12938 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 164.95 on 01-Apr-2022 and a 52 week low of Rs. 97.50 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 146.00 and Rs. 135.00 respectively. The current market cap of the company is Rs. 2043.17 crore.
The promoters holding in the company stood at 73.82%, while Institutions and Non-Institutions held 2.21% and 23.97% respectively.
Mukand has executed Share Purchase Agreement (SPA) to sell /transfer 25,71,150 equity shares, constituting 5.51% of equity share capital of Mukand Sumi Special Steel (MSSSL), a Joint Venture of Bajaj Group, to Jamnalal Sons, a promoter group entity of the Company.
The aforesaid sale and transfer of the Sale Shares or consummation of the aforesaid SPA is subject to shareholders approval of the Company, third-party consents, statutory and regulatory approvals (including but not limited to Competition Commission of India), as applicable.
Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.
