PDS rises as its arm planning to acquire remaining 10% stake in Norlanka Manufacturing
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PDS is currently trading at Rs. 350.00, up by 4.80 points or 1.39% from its previous closing of Rs. 345.20 on the BSE.
The scrip opened at Rs. 339.00 and has touched a high and low of Rs. 351.50 and Rs. 339.00 respectively. So far 18 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 382.35 on 04-Nov-2022 and a 52 week low of Rs. 282.00 on 11-Oct-2022.
Last one week high and low of the scrip stood at Rs. 360.10 and Rs. 339.00 respectively. The current market cap of the company is Rs. 4519.62 crore.
The promoters holding in the company stood at 66.30%, while Institutions and Non-Institutions held 4.08% and 29.62% respectively.
PDS’ subsidiary -- Norwest Industries has proposed to acquire an equity stake of 10% in Norlanka Manufacturing, a Company incorporated under the laws of Hong Kong. Post transaction, the Norwest Industries’ total shareholding in Norlanka Manufacturing will be 100%. The acquisition aims to expand & create an opportunity in the fashion & apparel business. The acquisition is expected to be completed on or before July 31, 2023.
Norlanka Manufacturing is engaged in trading of ready to wear garments & apparels and other opportunities.
PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.
