RattanIndia Enterprises inches up as its arm scales up business immensely
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RattanIndia Enterprises is currently trading at Rs. 52.05, up by 0.05 points or 0.10% from its previous closing of Rs. 52.00 on the BSE.
The scrip opened at Rs. 52.95 and has touched a high and low of Rs. 53.60 and Rs. 51.50 respectively. So far 445579 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 65.85 on 12-Jan-2022 and a 52 week low of Rs. 30.50 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 55.80 and Rs. 50.70 respectively. The current market cap of the company is Rs. 7201.62 crore.
The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 9.43% and 15.76% respectively.
RattanIndia Enterprises’ wholly owned subsidiary -- Cocoblu Retail (Cocoblu) has scaled up the business immensely. In view of its growing business & the upcoming festive season and to cater to the demands of the retail customers, Cocoblu needs to procure and store inventory for which working capital is required beyond the sizable equity commitment of Rs 350 crore done by the company in Cocoblu.
The Company and its promoters are committed to provide all necessary financial/non-financial assistance to Cocoblu to augment its revenues and enhance its business. Towards this endeavour, one of the promoters of the Company, i.e Laurel Energetics (Laurel), by way of providing security for securing working capital for Cocoblu, pledged 2.72% equity shares of the Company out of the 74.81% shares owned by promoters of the Company.
RattanIndia Enterprises is engaged in the business of Power generation, transmission and distribution of power and power advisory.
