Sundram Fasteners zooms on planning to invest Rs 100 crore in defence business in next 2 years
Sundram Fasteners is currently trading at Rs. 752.45, up by 40.70 points or 5.72% from its previous closing of Rs. 711.75 on the BSE.
The scrip opened at Rs. 714.75 and has touched a high and low of Rs. 755.00 and Rs. 714.75 respectively. So far 2789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 993.00 on 07-Oct-2021 and a 52 week low of Rs. 674.80 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 755.00 and Rs. 697.35 respectively. The current market cap of the company is Rs. 15599.93 crore.
The promoters holding in the company stood at 49.69%, while Institutions and Non-Institutions held 29.38% and 20.93% respectively.
Sundram Fasteners is planning to invest Rs 100 crore in its defence business vertical in the next two years. The company has been devising plans and broad-basing the product segments to increase its revenues, exports and profits considering the need for faster growth and to ensure consistent performance under economic cycles. The company is working with the defence establishments to be part of the Atmanirbhar initiatives of the Indian government.
Sundram Fasteners is primarily engaged in manufacture and sale of bolts and nuts, water pumps, sintered products, cold extruded components, hot and warm forged parts, radiator caps and other parts which have applications mainly in automobile industry.
