Pricol jumps after its arm gets approval for incorporation of wholly owned subsidiary company
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Pricol is currently trading at Rs. 192.85, up by 8.45 points or 4.58% from its previous closing of Rs. 184.40 on the BSE.
The scrip opened at Rs. 184.00 and has touched a high and low of Rs. 194.00 and Rs. 184.00 respectively. So far 65805 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 208.00 on 10-Oct-2022 and a 52 week low of Rs. 96.45 on 13-May-2022.
Last one week high and low of the scrip stood at Rs. 194.00 and Rs. 181.25 respectively. The current market cap of the company is Rs. 2353.53 crore.
The promoters holding in the company stood at 36.53%, while Institutions and Non-Institutions held 15.34% and 48.13% respectively.
Pricol’s wholly owned subsidiary -- Pricol Asia has received approval from Board of Directors of the company for the incorporation of wholly owned subsidiary company in India under the name Pricol Electronics or such other name as approved by the Ministry of Corporate Affairs. Pricol Asia proposes to infuse around Rs 25 crore as share capital in the aforesaid WOS in India, which will engage in the business of manufacturing and distribution of electronic components catering to automotive as well as non-automotive applications.
Pricol is engaged in the business of manufacturing and selling of Instrument clusters and other allied automobile components to Original Equipment Manufacturers (OEM) and replacement markets.
