Permanent Magnets zooms on incorporating wholly owned subsidiary
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Permanent Magnets is currently trading at Rs. 1013.00, up by 78.05 points or 8.35% from its previous closing of Rs. 934.95 on the BSE.
The scrip opened at Rs. 941.00 and has touched a high and low of Rs. 1120.00 and Rs. 940.00 respectively. So far 30009 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 1198.40 on 17-May-2023 and a 52 week low of Rs. 282.20 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1120.00 and Rs. 870.00 respectively. The current market cap of the company is Rs. 874.46 crore.
The promoters holding in the company stood at 58.01%, while Institutions and Non-Institutions held 0.01% and 41.98% respectively.
Permanent Magnets has incorporated a wholly owned subsidiary company named ‘Quantum Magnetics’ on May 31, 2023. The wholly owned subsidiary is incorporated to carry on the business in India or elsewhere as buyer, sellers, manufacturers, importers, exporters, distributors, dealers in neodymium magnets and related products. The business of wholly owned subsidiary is in line with the main line of business of the company.
Permanent Magnets is among the flagship companies of Taparia Group, Mumbai and also one of the leading manufacturers of Alnico Cast Magnets and Yoke Assemblies.
