Prince Pipes & Fittings surges on raising Rs 25.35 crore through Commercial Paper
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Prince Pipes & Fittings is currently trading at Rs. 644.95, up by 17.40 points or 2.77% from its previous closing of Rs. 627.55 on the BSE.
The scrip opened at Rs. 630.05 and has touched a high and low of Rs. 647.65 and Rs. 630.05 respectively. So far 6815 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 896.65 on 09-Nov-2021 and a 52 week low of Rs. 588.00 on 14-May-2021.
Last one week high and low of the scrip stood at Rs. 664.25 and Rs. 611.40 respectively. The current market cap of the company is Rs. 7034.45 crore.
The promoters holding in the company stood at 62.94%, while Institutions and Non-Institutions held 18.00% and 19.05% respectively.
Prince Pipes & Fittings has issued and allotted 507 units of Commercial Paper (CP) of Rs 5,00,000 each, aggregating to Rs 25.35 crore at a yield of at discount 5.450% p.a. Tenure of the security is 86 days. The aforesaid Commercial Paper is listed on NSE pursuant to SEBI Circular dated October 22, 2019.
Prince Pipes & Fittings is recognized as one of the leading polymer pipes and fittings manufacturers in India in terms of number of distributors.
