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2026-08-24 10:37:02 am | Source: Accord Fintech
Craftsman Automation moves up on getting nod to incorporate step-down WOS in Germany
Craftsman Automation moves up on getting nod to incorporate step-down WOS in Germany

Craftsman Automation is currently trading at Rs. 10692.95, up by 53.35 points or 0.50% from its previous closing of Rs. 10639.60 on the BSE.

The scrip opened at Rs. 10949.95 and has touched a high and low of Rs. 10949.95 and Rs. 10668.40 respectively. So far 267 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 10995.65 on 19-Aug-2026 and a 52 week low of Rs. 6251.65 on 16-Mar-2026.

Last one week high and low of the scrip stood at Rs. 10995.65 and Rs. 10294.50 respectively. The current market cap of the company is Rs. 27902.60 crore.

The promoters holding in the company stood at 42.41%, while Institutions and Non-Institutions held 50.07% and 7.52% respectively.

Craftsman Automation’s Board has approved the proposal for incorporation of Craftsman Fronberg Precision GmbH in Germany by Craftsman Germany GmbH, a wholly owned subsidiary (WOS) of the Company, subject to completion of statutory and regulatory formalities and such approvals as may be required under applicable laws. The Board of Directors of the Company, by way of Circular Resolution dated August 21, 2026, has approved the proposal.

Upon incorporation, Craftsman Fronberg Precision GmbH shall become a wholly owned subsidiary of Craftsman Germany GmbH and consequently a step-down wholly owned subsidiary of Craftsman Automation. The proposed entity is being incorporated for undertaking machining and processing activities relating to engine and engineering components. The incorporation is intended to support the development of in-house machining capabilities, strengthen operational flexibility and support future growth of the Group's Germany operations.

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