Texmo Pipes & Products gains on subscribing stake in Shree Venkatesh Polymers
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Texmo Pipes & Products is currently trading at Rs. 60.71, up by 0.75 points or 1.25% from its previous closing of Rs. 59.96 on the BSE.
The scrip opened at Rs. 59.96 and has touched a high and low of Rs. 61.00 and Rs. 59.96 respectively. So far 1780 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.00 on 20-May-2022 and a 52 week low of Rs. 41.00 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 63.28 and Rs. 59.55 respectively. The current market cap of the company is Rs. 178.09 crore.
The promoters holding in the company stood at 44.24%, while Institutions and Non-Institutions held 0.91% and 54.85% respectively.
Texmo Pipes & Products has subscribed share capital of ‘Shree Venkatesh Polymers’ a wholly owned subsidiary of the Company incorporated on April 30, 2023. The object of acquisition i.e. subscription is to become a member and promoter of Shree Venkatesh Polymers. The cost of acquisition i.e. Subscription of 10,000 Equity shares in Shree Venkatesh Polymers is Rs 1,00,000 i.e. 10,000 Equity Shares of Rs 10 each.
Texmo Pipes & Products is engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe etc.
