Rashi Peripherals climbs on getting nod to make investment of up to Rs 14 crore in Satcom
Rashi Peripherals is currently trading at Rs. 364.45, up by 11.80 points or 3.35% from its previous closing of Rs. 352.65 on the BSE.
The scrip opened at Rs. 355.00 and has touched a high and low of Rs. 366.05 and Rs. 351.10 respectively. So far 9083 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 474.80 on 12-Jul-2024 and a 52 week low of Rs. 284.75 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 396.80 and Rs. 350.00 respectively. The current market cap of the company is Rs. 2408.63 crore.
The promoters holding in the company stood at 63.41%, while Institutions and Non-Institutions held 16.18% and 20.42% respectively.
Rashi Peripherals has received an approval to make an investment of up to Rs 14 crore by way of acquisition of equity shares in Satcom Info Tech (Satcom). In this regard, the company will execute a Share Purchase Agreement (SPA) with promoters/shareholders of Satcom Info Tech and Satcom Info Tech for acquisition of the said shares. The Board of Directors at its meeting held on January 13, 2025 has approved the same.
The strategic acquisition aims to widen the scope/base of the product portfolio and post-acquisition, Satcom Info Tech would become a subsidiary of the company.
Rashi Peripherals is primarily engaged in distribution of computer and peripheral devices.
