International Conveyors zooms on acquiring stake in Sheela Foam
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International Conveyors is currently trading at Rs. 84.10, up by 4.97 points or 6.28% from its previous closing of Rs. 79.13 on the BSE.
The scrip opened at Rs. 80.86 and has touched a high and low of Rs. 85.65 and Rs. 80.86 respectively. So far 46182 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 124.79 on 08-Feb-2024 and a 52 week low of Rs. 40.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 85.65 and Rs. 73.65 respectively. The current market cap of the company is Rs. 533.33 crore.
The promoters holding in the company stood at 69.18%, while Institutions and Non-Institutions held 0.01% and 30.81% respectively.
International Conveyors has acquired equity shares of Sheela Foam. The cost of acquisition is Rs 3.14 crore. A leader in Polyurethane (PU) Foam, Sheela Group is a multi-billion rupee entity. It has a nationwide presence in manufacturing PU Foam with a global marketing perspective and an impeccable track record, since 1971. Earlier, the company had acquired the equity shares of ‘La Opala RG’.
International Conveyors (ICL) is an India-based company. The Company is engaged in manufacturing and marketing solid woven carcass reinforced fire retardant antistatic (FRAS) PVC Conveyor Belting in segment explosive fire hazardous underground mine application.
