TCM surges on getting nod to incorporate new wholly owned subsidiary
TCM is currently trading at Rs. 47.35, up by 1.55 points or 3.38% from its previous closing of Rs. 45.80 on the BSE.
The scrip opened at Rs. 47.90 and has touched a high and low of Rs. 47.90 and Rs. 45.95 respectively. So far 332 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 58.10 on 28-Apr-2022 and a 52 week low of Rs. 26.45 on 15-Jun-2022.
Last one week high and low of the scrip stood at Rs. 53.40 and Rs. 45.65 respectively. The current market cap of the company is Rs. 34.36 crore.
The promoters holding in the company stood at 47.25%, while Institutions and Non-Institutions held 10.30% and 42.45% respectively.
TCM has received approval to incorporate new wholly owned subsidiary company in the name of ‘TCM Solar’ with 100% shareholding of TCM initially with Rs 15 lakh authorized capital and Rs 1 lakh Paid Up Capital which will do business of generating, producing, transmitting, supplying, distributing and dealing in electricity and all forms of energy and power derived by any source whether nuclear, steam, hydro, tidal, wind, solar, hydrocarbon fuel or any other form and business of establishing, manufacturing, commissioning, setting up, operating and maintaining electric power equipment, transmission systems, networks, power systems, generating stations based on conventional/ non-conventional resources for evacuation, transmission, distribution, trading or supply of power through establishing or using stations, tie-lines, sub-stations and transmissions or distribution lines in any manner including Build, Own and Transfer (BOT), Build, Own and Operate (BOO), Build Own, Lease and Transfer (BOLT) and/or Build, Own, Operate and Transfer (BOOT) basis or otherwise. The Board of Directors of the Company in its meeting held on December 06, 2022 has considered and approved the same.
TCM has been the manufacturers and suppliers of India's best copper sulphate and other industrial chemicals.