Lumax Auto Technologies inches up on completing acquisition of entire stake in Lumax Ancillary
Lumax Auto Technologies is currently trading at Rs. 367.00, up by 1.80 points or 0.49% from its previous closing of Rs. 365.20 on the BSE.
The scrip opened at Rs. 363.15 and has touched a high and low of Rs. 363.15 and Rs. 367.15 respectively.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.00 on 08-Aug-2023 and a 52 week low of Rs. 210.20 on 15-Feb-2023.
Last one week high and low of the scrip stood at Rs. 383.10 and Rs. 363.05 respectively. The current market cap of the company is Rs. 2489.12 crore.
The promoters holding in the company stood at 55.98%, while Institutions and Non-Institutions held 24.21% and 19.82% respectively.
Lumax Auto Technologies has completed the acquisition of entire equity stake i.e. 100% of the Paid-up Share Capital of Lumax Ancillary (LAL) on January 25, 2024. Accordingly, LAL has become a wholly owned subsidiary of the Company with effect from January 25, 2024.
Further, the acquisition will help both the companies to leverage their respective competitive strengths in order to drive their business forward in the coming years and work towards unlocking potential synergies across products, customers, technology and manufacturing excellence.
Lumax Auto Technologies manufactures a wide range of automotive components. The company's products include drive transmission and steering components, body and chassis, and electrical components.
