Ram Ratna Wires inches up on acquiring 60% stake in Tefabo Product
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Ram Ratna Wires is currently trading at Rs. 595.95, up by 0.95 points or 0.16% from its previous closing of Rs. 595.00 on the BSE.
The scrip opened at Rs. 607.75 and has touched a high and low of Rs. 607.00 and Rs. 595.95 respectively. So far 2074 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 758.00 on 14-Oct-2024 and a 52 week low of Rs. 244.95 on 15-Mar-2024.
Last one week high and low of the scrip stood at Rs. 619.00 and Rs. 589.05 respectively. The current market cap of the company is Rs. 2618.00 crore.
The promoters holding in the company stood at 73.04%, while Institutions and Non-Institutions held 0.48% and 26.47% respectively.
Ram Ratna Wires has acquired 60% stake of Tefabo Product (Tefabo). Tefabo is engaged in the business of manufacturing fabricated components and assemblies and having complete fabrication set up and strong presence in renewable energy sector and many MNC’s on board as their clients.
India has taken an ambitious target of achieving 500 GW of renewable energy by 2030 and is planning to be carbon neutral by year 2070. As such Renewable Energy sector will be further booming in coming years. The Company aims to establish a strong presence in the dynamic and growing sectors of renewable energy and railways. Tefabo is already supplying critical mechanical components to leading companies in India and abroad within these industries.
Earlier, the company had received approval from Board of Directors of the Company for acquisition of 60% of the paid-up share capital of Tefabo.
Ram Ratna Wires is engaged in manufacturing of enamelled copper winding wires. Its products include modified polyester copper wires, polyesterimide wires, polyurethane self solderable wires and dual coated wires.
