Shanthi Gears shines on entering into agreement with Shreeji Metazine
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Shanthi Gears is currently trading at Rs. 360.00, up by 14.85 points or 4.30% from its previous closing of Rs. 345.15 on the BSE.
The scrip opened at Rs. 345.20 and has touched a high and low of Rs. 361.05 and Rs. 344.50 respectively. So far 2036 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 399.00 on 24-Nov-2022 and a 52 week low of Rs. 144.45 on 25-Jan-2022.
Last one week high and low of the scrip stood at Rs. 366.95 and Rs. 343.60 respectively. The current market cap of the company is Rs. 2682.75 crore.
The promoters holding in the company stood at 70.47%, while Institutions and Non-Institutions held 3.96% and 25.56% respectively.
Shanthi Gears has entered into an agreement with Shreeji Metazine LLP for purchase of Land and buildings at Sanand, Gujarat for expansion of its Gear manufacturing and servicing activities. The company has been actively exploring the growth opportunities. In order to meet business requirements from West & North region, the company is exploring the opportunity for buying plants in Sanand.
Shanthi Gears -- a subsidiary of Tube Investments of India -- is a pioneer in gear manufacturing and ranks amongst India’s top gear manufacturers.
