Midwest gains on getting nod to incorporate wholly-owned subsidiary in Sierra Leone
Midwest is currently trading at Rs. 1816.00, up by 16.55 points or 0.92% from its previous closing of Rs. 1799.45 on the BSE.
The scrip opened at Rs. 1852.85 and has touched a high and low of Rs. 1856.60 and Rs. 1815.00 respectively. So far 173 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1,856.60 on 8-Jan-2026 and a 52 week low of Rs. 1048.65 on 28-Oct-2025.
Last one week high and low of the scrip stood at Rs. 1856.60 and Rs. 1696.10 respectively. The current market cap of the company is Rs. 6506.96 crore.
The promoters holding in the company stood at 77.13%, while Institutions and Non-Institutions held 14.64% and 8.25% respectively.
Midwest has received approval from Board of Directors to incorporate a wholly-owned subsidiary Company in Sierra Leone. The Company is actively exploring global opportunities to expand its HMS reserves in support of long-term growth and as a part of this initiative, Sierra Leone, a resource-rich West African nation, has been identified as a prospective location for additional HMS reserves.
Regulatory requirements in the jurisdiction necessitate the incorporation of a local entity to apply for the mineral rights. Accordingly, it is proposed to establish a wholly owned subsidiary in Sierra Leone to advance this opportunity and support its long-term growth objectives. The Board of Directors of the Company at its meeting held on January 07, 2026, has inter alia considered and approved the same.
Midwest is India's largest producer and exporter of Black Galaxy Granite, a premium variety of granite, which has a sparkling feature with flakes of a golden hue. It is used in real estate projects for applications including countertops and vanities, flooring, cladding, bathroom walls and floors.
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