Pitti Engineering gains on making further investment in subsidiary company
Pitti Engineering is currently trading at Rs. 376.45, up by 5.05 points or 1.36% from its previous closing of Rs. 371.40 on the BSE.
The scrip opened at Rs. 372.00 and has touched a high and low of Rs. 379.00 and Rs. 371.40 respectively. So far 2163 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 390.35 on 06-Jun-2023 and a 52 week low of Rs. 256.80 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 390.35 and Rs. 364.05 respectively. The current market cap of the company is Rs. 1206.52 crore.
The promoters holding in the company stood at 59.29%, while Institutions and Non-Institutions held 5.92% and 34.80% respectively.
Pitti Engineering has made further investments to the extent of Rs 5,00,000 in its Wholly Owned Subsidiary Company, Pitti Rail and Engineering Components by way of subscription to 50,000 fully paid up equity shares of face value Rs 10 each through Rights issue. The further investment is made to enable PRECL meet its expenses for operations and general corporate purpose.
Pitti Engineering is India's largest and most reputed manufacturer of Electrical Steel Laminations, Motor Cores, Sub-Assemblies, Die-Cast Rotors and Press Tools.
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