Shivam Autotech surges on planning to raise funds via NCDs
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Shivam Autotech is currently trading at Rs. 25.21, up by 0.40 points or 1.61% from its previous closing of Rs. 24.81 on the BSE.
The scrip opened at Rs. 25.50 and has touched a high and low of Rs. 25.50 and Rs. 25.05 respectively. So far 3218 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 50.00 on 04-Aug-2022 and a 52 week low of Rs. 20.50 on 31-Mar-2023.
Last one week high and low of the scrip stood at Rs. 26.23 and Rs. 24.75 respectively. The current market cap of the company is Rs. 308.12 crore.
The promoters holding in the company stood at 74.80%, while Institutions and Non-Institutions held 0.02% and 25.19% respectively.
Shivam Autotech is planning to raise funds though the issuance of Secured, Redeemable, Non-Convertible Debentures (NCDs) on private placement basis and amongst other matters, subject to such regulatory/ statutory approvals as may be required. A meeting of the Board of Directors of the Company is scheduled to be held on July 2, 2023, inter-alia to consider the same.
Shivam Autotech is one of the largest manufacturers of transmission gears and shafts in India. The company has been serving a large number of automobile manufacturers as their principal component partner for the past many years.
