Delta Manufacturing surges on incorporating wholly owned subsidiary
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Delta Manufacturing is currently trading at Rs. 105.00, up by 1.90 points or 1.84% from its previous closing of Rs. 103.10 on the BSE.
The scrip opened at Rs. 107.90 and has touched a high and low of Rs. 108.00 and Rs. 105.00 respectively. So far 1755 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 132.12 on 04-Mar-2024 and a 52 week low of Rs. 71.25 on 19-May-2023.
Last one week high and low of the scrip stood at Rs. 108.00 and Rs. 102.00 respectively. The current market cap of the company is Rs. 115.24 crore.
The promoters holding in the company stood at 72.12%, while Institutions and Non-Institutions held 0.08% and 27.80% respectively.
Delta Manufacturing has incorporated wholly owned subsidiary namely ‘MMG Ferrites’(MFPL). MFPL will undertake business as manufacturers and dealers in Soft Ferrite, Electronic instruments, Electronic and Electric Equipment, Electronic Components, Magnetic Tapes etc.
MFPL is intended to be the joint venture company between PREMO, S.L. and the Company to undertake the aforesaid business. The cost of acquisition is Rs 10 lakh for acquiring 1,00,000 equity shares at a face value of Rs 10.
Delta Manufacturing is a leading hard ferrite magnet (Anisotropic & Isotropic) manufacturer based in India.
