Sprayking Agro Equipment shines on acquiring 51% stake in Narmada Brass Industries
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Sprayking Agro Equipment is currently trading at Rs. 152.95, up by 6.90 points or 4.72% from its previous closing of Rs. 146.05 on the BSE.
The scrip opened at Rs. 153.00 and has touched a high and low of Rs. 153.30 and Rs. 149.35 respectively. So far 847 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 178.40 on 19-Jun-2023 and a 52 week low of Rs. 12.06 on 18-Jul-2022.
Last one week high and low of the scrip stood at Rs. 160.70 and Rs. 144.00 respectively. The current market cap of the company is Rs. 154.34 crore.
The promoters holding in the company stood at 36.41%, while Non-Institutions held 63.59% stake in the company.
Sprayking Agro Equipment has acquired 51% equity stake for Rs 5.10 crore vide Partnership Deed dated June 27, 2023 in Narmada Brass Industries. The acquisition will provide the Company with own manufacturing plant which will help to increase turnover, infrastructure and ability to cater more customers.
Narmada Brass Industries manufactures Brass Parts, including Brass Fittings, Brass Forging Equipment, Brass Transformer Parts & other Customized Brass Parts.
Sprayking Agro Equipment is spare parts manufacturing company. Its products include agriculture parts, plumbing component, auto parts, electrical parts, fitting parts, general parts and transformer parts. The company was incorporated in 2005 and is based in Jamnagar, Gujarat.
