Syrma SGS Technology jumps on acquiring 51% stake in Johari Digital Healthcare
Syrma SGS Technology is currently trading at Rs. 571.50, up by 32.95 points or 6.13% from its previous closing of Rs. 537.80 on the BSE.
The scrip opened at Rs. 540.05 and has touched a high and low of Rs. 572.10 and Rs. 540.05 respectively. So far 49515 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 579.90 on 28-Aug-2023 and a 52 week low of Rs. 248.30 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 572.10 and Rs. 532.00 respectively. The current market cap of the company is Rs. 9929.61 crore.
The promoters holding in the company stood at 47.27%, while Institutions and Non-Institutions held 18.50% and 34.23% respectively.
Syrma SGS Technology has completed acquisition of 51% stake in Johari Digital Healthcare (JDHL) for a consideration of Rs 229.50 crore. JDHL has a strong reputation as an end-to-end design-focused manufacturer of electro-medical devices, focusing on therapeutic areas such as aesthetics, diagnostics, physiotherapy, life sciences among others.
This acquisition will enhance Syrma SGS's capabilities and offerings in the electro-medical devices segment and create business synergies across multiple areas. Syrma SGS expects the acquisition to be accretive to its earnings and cash flow.
Syrma SGS Technology is a technology-focussed engineering and design company engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries, including industrial appliances, automotive, healthcare, consumer products and IT industries.
