Bansal Wire Industries moves up on acquiring remaining 23.85% stake in Bansal Steel & Power
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Bansal Wire Industries is currently trading at Rs. 353.25, up by 1.50 points or 0.43% from its previous closing of Rs. 351.75 on the BSE.
The scrip opened at Rs. 359.65 and has touched a high and low of Rs. 359.65 and Rs. 353.05 respectively. So far 3340 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 385.00 on 01-Aug-2024 and a 52 week low of Rs. 325.05 on 23-Jul-2024.
Last one week high and low of the scrip stood at Rs. 367.95 and Rs. 343.90 respectively. The current market cap of the company is Rs. 5506.86 crore.
The promoters holding in the company stood at 64.21%, while Non-Institutions held 35.79% stake in the company.
Bansal Wire Industries has completed the acquisition by purchase of the remaining 23.85% stake in Bansal Steel & Power. Consequent to completion of this acquisition and other closing conditions as mentioned in the Share Purchase Agreement, the company’s shareholding in Bansal Steel & Power has increased from 76.15% (pre-acquisition) to 100% (post-acquisition) and Bansal Steel & Power has become a Wholly Owned Subsidiary of the company with effect from August 8, 2024.
Bansal Wire Industries manufactures high and low carbon steel wires/ galvanized wire / cable armoring wires and strips / stainless steel wires / profile, shaped wires, speciality wires and so on which have multiple application.
