Prudential Sugar Corporation surges on inking pact to acquire 76% stake in Senatla Innovative EV Components
Prudential Sugar Corporation is currently trading at Rs 36.83, up by 0.83 points or 2.31% from its previous closing of Rs 36.00 on the BSE.
The scrip opened at Rs 35.75 and has touched a high and low of Rs 37.99 and Rs 35.75 respectively. So far 22660 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52-week high of Rs 75.88 on 22-Oct-2024 and a 52-week low of Rs 30.91 on 05-Jun-2025.
Last one week high and low of the scrip stood at Rs 39.05 and Rs 35.55 respectively. The current market cap of the company is Rs 117.78 crore.
The promoters holding in the company stood at 62.71%, while Institutions and Non-Institutions held 1.06% and 36.23% respectively.
Prudential Sugar Corporation has entered into a Memorandum of Understanding (MoU) with Senatla EV Products, Senatla Innovative EV Components and two others for subscribing and acquiring 76% Equity stake valued at around Rs 4 crore, in Senatla Innovative EV Components which is presently engaged in manufacturing and sale of Electric Two Wheelers and Electrical Three Wheelers.
Upon completion of acquisition of 76% equity by Prudential Sugar Corporation, as per the Memorandum of Understanding, Senatla Innovative EV Components will become 76% subsidiary of Prudential Sugar Corporation and the balance 24% will continue to be held by the Original Promoter, Senatla EV Products and their Promoters.
The Company primarily manufactures white crystal sugar out of sugarcane. The other products namely molasses and bagasse are by-products and the same are sold by the Company to distilleries and co-gen power plants respectively.
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