Trident trades higher on getting nod to acquire entire stake in Trident Innovations
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Trident is currently trading at Rs. 48.60, up by 0.55 points or 1.14 % from its previous closing of Rs. 48.05 on the BSE.
The scrip opened at Rs. 48.05 and has touched a high and low of Rs. 49.35 and Rs. 47.00 respectively. So far 954417 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 70.90 on 18-Jan-2022 and a 52 week low of Rs. 15.65 on 01-Jun-2021.
Last one week high and low of the scrip stood at Rs. 49.35 and Rs. 43.40 respectively. The current market cap of the company is Rs. 24511.55 crore.
The promoters holding in the company stood at 72.94%, while Institutions and Non-Institutions held 5.01% and 22.04% respectively.
Trident has received approval from board of directors for acquisition of 100% equity share capital of Trident Innovations. The company proposes to acquire Trident Innovations for implementation of forward and backward integration of operations. The Board of Directors of the Company in their meeting held on May 30, 2022 has approved the same.
The cost of acquisition shall be the face value of equity shares. Accordingly, the total purchase consideration shall be of Rs 1 lakh i.e. 10,000 equity shares having face value of Rs 10 each.
Trident is one of the largest exporters of home textile products from India.
