Craftsman Automation gains on getting nod to set up new plant in Rajasthan
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Craftsman Automation is currently trading at Rs. 4820.90, up by 74.70 points or 1.57% from its previous closing of Rs. 4746.20 on the BSE.
The scrip opened at Rs. 4750.00 and has touched a high and low of Rs. 4863.60 and Rs. 4643.85 respectively. So far 1138 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 5510.00 on 22-Dec-2023 and a 52 week low of Rs. 2699.40 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 4863.60 and Rs. 4641.00 respectively. The current market cap of the company is Rs. 10103.66 crore.
The promoters holding in the company stood at 54.99%, while Institutions and Non-Institutions held 29.75% and 15.27% respectively.
Craftsman Automation has received approval for setting up of a new plant/unit at Salarpur, Bhiwadi, Rajasthan. Estimated investment required for Phase 1 is Rs 150 crore.
Currently, Craftsman has limited presence in Northern India, where major two-wheeler and Passenger Car OEMs apart from General Engineering and Farm Equipment sectors are located. The new plant will be within 100 kms from major OEMs and enable the company to utilize the plant capacity optimally. The Board of Directors of the Company at their meeting held on January 27, 2024 has approved the same.
Craftsman Automation is a diversified engineering company engaged in: (a) Automotive - Powertrain and Others, (b) Automotive - Aluminium Products, and (c) Industrial and Engineering segments.
