Elpro International zooms on getting nod to acquire 100% stake in Faridabad Management
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Elpro International is currently trading at Rs. 94.84, up by 6.66 points or 7.55% from its previous closing of Rs. 88.18 on the BSE.
The scrip opened at Rs. 99.90 and has touched a high and low of Rs. 99.90 and Rs. 94.01 respectively. So far 213047 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 99.90 on 12-Dec-2023 and a 52 week low of Rs. 53.00 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 99.90 and Rs. 86.25 respectively. The current market cap of the company is Rs. 1626.83 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 11.34% and 13.66% respectively.
Elpro International has received approval for acquisition of 100% stake in Faridabad Management (FMPL), a Company incorporated under the provisions of Companies Act, 1956. Post completion of the said Acquisition, FMPL will become wholly owned Subsidiary of the Company. The objective of acquisition is to expand the business operations of the Company and to facilitate future business plans of the Company. The Board of Directors at their meeting held on February 10, 2024, have considered and approved the same.
Elpro International is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world.
