DCM Nouvelle gains on further investing Rs 32 crore in DCMSCL
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DCM Nouvelle is currently trading at Rs. 208.40, up by 0.85 points or 0.41% from its previous closing of Rs. 207.55 on the BSE.
The scrip opened at Rs. 209.25 and has touched a high and low of Rs. 209.25 and Rs. 208.40 respectively. So far 2190 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 297.55 on 05-Jul-2024 and a 52 week low of Rs. 169.00 on 23-Jan-2024.
Last one week high and low of the scrip stood at Rs. 219.30 and Rs. 204.50 respectively. The current market cap of the company is Rs. 387.66 crore.
The promoters holding in the company stood at 50.11%, while Institutions and Non-Institutions held 2.22% and 47.67% respectively.
DCM Nouvelle has further invested an amount of Rs 32 crore by way of subscription to the additional 1,07,41,200 fully paid-up Equity Shares of face value Rs 10 each of DCM Nouvelle Specialty Chemicals (DCMSCL) offered through rights issue. The shares rank pari-passu to existing Equity Shares of the company. Post-Acquisition, the shareholding of the company in DCMSCL has increased from 82.90% to 87.08%. Acquiring additional equity stake of the DCMSCL, will add additional revenue segment for the company and will create value to the company.
The company, primarily, engaged in the business of manufacturing and sale of Cotton Yarn.
