V-Guard Industries surges on completing acquisition of balance 26% stake in Guts Electro-Mech
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V-Guard Industries is currently trading at Rs. 230.80, up by 1.75 points or 0.76% from its previous closing of Rs. 229.05 on the BSE.
The scrip opened at Rs. 233.90 and has touched a high and low of Rs. 233.90 and Rs. 228.45 respectively. So far 2109 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 274.80 on 04-Oct-2021 and a 52 week low of Rs. 181.90 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 234.20 and Rs. 225.40 respectively. The current market cap of the company is Rs. 9971.81 crore.
The promoters holding in the company stood at 55.88%, while Institutions and Non-Institutions held 30.49% and 13.63% respectively.
V-Guard Industries has completed the acquisition of balance 26% of equity shares of Guts Electro-Mech, Subsidiary company, by making call option in accordance with the Share purchase and Subscription Agreement dated August 31, 2017 and the addendum executed. GUTS Electro-Mech has become wholly owned subsidiary of the company effective from September 1, 2022. The cost of acquisition for the 26% equity stake as per the Share purchase and subscription agreement dated August 31, 2017 is Rs 6.2 crore.
V-Guard Industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.
