Shreeji Translogistics trades higher on getting nod to incorporate wholly owned subsidiary
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Shreeji Translogistics is currently trading at Rs. 304.00, up by 1.95 points or 0.65% from its previous closing of Rs. 302.05 on the BSE.
The scrip opened at Rs. 304.00 and has touched a high and low of Rs. 311.00 and Rs. 303.70 respectively. So far 3509 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 351.95 on 17-Aug-2022 and a 52 week low of Rs. 43.50 on 01-Oct-2021.
Last one week high and low of the scrip stood at Rs. 315.00 and Rs. 297.85 respectively. The current market cap of the company is Rs. 322.86 crore.
The promoters holding in the company stood at 72.70%, while Non-Institutions held 27.30%.
Shreeji Translogistics has received approval to incorporate wholly owned subsidiary namely ‘Mihani Trading’. This will enable vertical expansion, strengthening the company’s position and accelerate its growth. The company will acquire 100% of paid up equity share capital of Mihani Trading consisting of 10,000 equity shares of face value of Rs 10 each aggregating to Rs 1 lakh. The indicative time period for completion of the acquisition is on receipt of Certificate of Incorporation from the Registrar of Companies, Mumbai. Mihani Trading is proposed to be engaged in the business of trading in all types of goods.
Shreeji Translogistics provides logistics services. The company offers truck load transport, parcel delivery, import-export, bonded trucking, warehousing, shipping line container movement, and value added services
