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Precision Wires India is currently trading at Rs 67.10, up by 2.05 points or 3.15% from its previous closing of Rs. 65.05 on the BSE.

The scrip opened at Rs. 63.90 and has touched a high and low of Rs. 67.50 and Rs. 63.90 respectively. So far 1559 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 131.45 on 20-Jan-2022 and a 52 week low of Rs. 37.60 on 11-Aug-2021.

Last one week high and low of the scrip stood at Rs. 74.65 and Rs. 64.05 respectively. The current market cap of the company is Rs. 766.08 crore.

The promoters holding in the company stood at 59.67%, while Institutions and Non-Institutions held 0.84% and 39.50% respectively.

Precision Wires India has received approval for additional capacity enhancement/modernization capital expenditure of Rs 25 crore which will result in further capacity enhancement of about 3000 MT/year at Silvassa unit. The board of director at their meeting held on June 11 has approved the same.

Earlier, the company had started taking effective steps for implementation of capacity expansion and modernization. Consequently increase in effective capacity of certain type of winding wire will be approximately 5000MT/annum at Silvassa unit at the total cost of Rs 40 crore.

As a result of the above the total proposed capacity enhancement of Winding Wires will be above 5000 MT/year plus 3000 MT/year about approximately 8000 MT/year at a projected cost of approximately of Rs 65 crore.

Precision Wires India is engaged in manufacturing of Enamelled Round and Rectangular Copper Winding Wires, Continuously Transposed Conductor (CTC) and Paper/Mica/Nomex Insulated Copper Conductor (PICC) which are used by the electrical/electronics industries.