Suryalata Spinning Mills rises on acquiring 100% stake in Suntree Solar Energy
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Suryalata Spinning Mills is currently trading at Rs. 314.95, up by 1.80 points or 0.57% from its previous closing of Rs. 313.15 on the BSE.
The scrip opened at Rs. 322.85 and has touched a high and low of Rs. 322.85 and Rs. 307.30 respectively. So far 436 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 425.00 on 12-Apr-2022 and a 52 week low of Rs. 272.40 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 344.30 and Rs. 301.00 respectively. The current market cap of the company is Rs. 131.42 crore.
The promoters holding in the company stood at 70.36%, while Institutions and Non-Institutions held 0.02% and 29.62% respectively.
Suryalata Spinning Mills has executed the Memorandum of Understanding and Share Purchase Agreement with the shareholders of Suntree Solar Energy on January 23, 2023 and has thereby acquired 100% shareholding of Suntree and with this Suntree (holding 10 MW Solar Power Plant in operation) becomes the Wholly Owned Subsidiary of the Company.
Suryalata Spinning Mills is a leading manufacturer and exporter of high quality yarns.
