Power & Instrumentation (Gujarat) touches roof on planning to acquire additional 35.82% stake in Peaton Electrical Company
Power & Instrumentation (Gujarat) is locked its upper circuit at Rs. 154.50, up by 3.00 points or 1.98% from its previous closing of Rs. 151.50 on the BSE.
The scrip opened at Rs. 154.50 and has touched a high and low of Rs. 154.50 and Rs. 154.50 respectively. So far 220 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 416.40 on 10-Jan-2025 and a 52 week low of Rs. 106.70 on 07-Jul-2025.
Last one week high and low of the scrip stood at Rs. 161.40 and Rs. 151.50 respectively. The current market cap of the company is Rs. 274.59 crore.
The promoters holding in the company stood at 45.71%, while Institutions and Non-Institutions held 0.08% and 54.21% respectively.
Power & Instrumentation (Gujarat) (PIGL) has planned to acquire an additional 35.82% stake in Peaton Electrical Company (PECL). This strategic acquisition will bring PIGL's total shareholding to 51.06% in PECL, making PECL a subsidiary of company. Prior to this transaction, PIGL already held a 15.23% stake in PECL.
The companies will collaborate on product development, new technologies, and a preferred relationship for supplies of LT panels, bus trunking systems, and compact substations. PECL will invest to expand manufacturing capacity to meet the growing requirements of PIGL.
The full integration of PECL as a subsidiary is a significant step for PIGL's long-term growth strategy. This move is expected to strengthen PIGL's product portfolio and enhance operational synergies through a reliable supply chain. By securing a majority stake, PIGL is positioning itself for accelerated growth, an expanded market presence, and increased profitability for its stakeholders.
Power & Instrumentation (Gujarat) is engaged in providing a wide range of contracting based services in the field of Electrical, Mechanical and Instrumentation Engineering.
