Donear Industries gains on acquiring 22% stake in Neo Stretch
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Donear Industries is currently trading at Rs. 98.75, up by 1.40 points or 1.44% from its previous closing of Rs. 97.35 on the BSE.
The scrip opened at Rs. 97.35 and has touched a high and low of Rs. 98.80 and Rs. 97.35 respectively. So far 1112 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 121.65 on 08-Sep-2023 and a 52 week low of Rs. 77.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 104.00 and Rs. 86.20 respectively. The current market cap of the company is Rs. 513.50 crore.
The promoters holding in the company stood at 74.56%, while Non-Institutions held 25.44% stake in the company.
Donear Industries has acquired 2,200 equity shares of Rs 10 each representing 22% Paid Up Equity Share Capital of Neo Stretch (NSPL). Consequently, NSPL shall become the Associate Companies of Donear Industries. This acquisition would inter alia result in growth opportunities in line with strategic directions of the Donear Group.
Donear Industries is engaged in the manufacture of fabrics like Suiting, Trouser & Shirtings created by Donear in a wide variety and range meant for Menswear & Womenswear.
