Vesuvius India gains on getting nod to incorporate new wholly owned subsidiary
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Vesuvius India is currently trading at Rs. 1476.60, up by 9.60 points or 0.65% from its previous closing of Rs. 1467.00 on the BSE.
The scrip opened at Rs. 1476.60 and has touched a high and low of Rs. 1481.15 and Rs. 1476.60 respectively. So far 1 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1534.20 on 01-Sep-2022 and a 52 week low of Rs. 906.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1481.15 and Rs. 1394.35 respectively. The current market cap of the company is Rs. 2977.43 crore.
The promoters holding in the company stood at 55.57%, while Institutions and Non-Institutions held 25.07% and 19.37% respectively.
Vesuvius India has received approval to incorporate new wholly owned subsidiary (private limited company), to be funded through internal accruals. The investment will involve an amount of around Rs 57 crore for a new manufacturing facility at Vizag. The board of directors of the company at its meeting held on September 8, 2022, has approved the same.
Vesuvius India is primarily a manufacturer and trader of refractory and is managed organizationally as a single unit.
