Triveni Turbine moves up as its arm inks pact to acquire 70% stake in TSE Engineering
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Triveni Turbine is currently trading at Rs. 200.85, up by 1.90 points or 0.96% from its previous closing of Rs. 198.95 on the BSE.
The scrip opened at Rs. 204.10 and has touched a high and low of Rs. 205.30 and Rs. 199.30 respectively. So far 10290 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 231.25 on 27-Jan-2022 and a 52 week low of Rs. 96.00 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 205.30 and Rs. 186.50 respectively. The current market cap of the company is Rs. 6432.16 crore.
The promoters holding in the company stood at 67.78%, while Institutions and Non-Institutions held 28.76% and 3.46% respectively.
Triveni Turbine’s wholly owned subsidiary - Triveni Turbines DMCC has signed an agreement for acquisition of 70% equity shares of TSE Engineering (TSE). TSE is registered under the laws of South Africa and is engaged in high precision engineering repairs and servicing of machinery in sugar and other industrial plants in South African Development Community (SADC) region. With the said acquisition of these shares, TSE will become a step down subsidiary of Triveni Turbine.
Triveni Turbine is a leading industrial steam turbine manufacturer.
