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2026-02-16 04:22:12 pm | Source: Accord Fintech
International Conveyors moves up on acquiring entire share capital of ICL Australia
International Conveyors moves up on acquiring entire share capital of ICL Australia

International Conveyors is currently trading at Rs. 79.36, up by 0.57 points or 0.72% from its previous closing of Rs. 78.79 on the BSE.

The scrip opened at Rs. 80.15 and has touched a high and low of Rs. 80.15 and Rs. 77.50 respectively. So far 5313 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 114.30 on 07-Oct-2025 and a 52 week low of Rs. 62.10 on 18-Feb-2025.

Last one week high and low of the scrip stood at Rs. 84.50 and Rs. 77.10 respectively. The current market cap of the company is Rs. 507.06 crore.

The promoters holding in the company stood at 69.65%, while Institutions and Non-Institutions held 0.89% and 29.46% respectively.

International Conveyors has acquired the entire share capital of International Conveyors Australia Pty (ICL Australia), erstwhile step-down subsidiary of the Company from Conveyor Holding (CHPL) (subsidiary of the Company). Pursuant to the said acquisition, ICL Australia has become direct subsidiary of the Company.

Making ICL Australia, the wholly owned subsidiary of the company Entity will result in increase in the sales of the products of the company in Australia, as Australia is one of the largest coal producing countries in the world. Increased sales in Australia will also help the company improve its top line. By making investment in ICL Australia and making it a wholly owned subsidiary, the company will be able to sell its products in Australia through foreign entity and can reach the local customers in Australia.

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