Rss Feed ASM Technologies soars on getting nod to acquire 100% stake in Semcon Engineering UK
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ASM Technologies is currently trading at Rs. 464.85, up by 17.70 points or 3.96% from its previous closing of Rs. 447.15 on the BSE.
The scrip opened at Rs. 468.00 and has touched a high and low of Rs. 469.80 and Rs. 452.00 respectively. So far 2431 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 615.00 on 20-Jun-2023 and a 52 week low of Rs. 355.05 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 469.80 and Rs. 433.80 respectively. The current market cap of the company is Rs. 491.87 crore.
The promoters holding in the company stood at 62.79%, while Institutions and Non-Institutions held 0.02% and 37.19% respectively.
ASM Technologies (ASM) has received approval from board of directors to acquire 100% stake in Semcon Engineering UK, through a share purchase agreement. ASM has over three decades built expertise in the semiconductor, hi-tech, automotive industries while Semcon works with a large number of clients within several industries, includes the automotive/mobility industry, energy and life science sectors.
With the acquisition of Semcon’ s operations in the UK, ASM Technologies will benefit from access to global customers in UK and Europe. In particular, ASM will build both scale and competence, relevant to the transportation industry as it transitions to new propulsion systems and ever-increasing levels of driver assistance and autonomy. The Board of Directors of the company at their meeting held on November 01, 2023 has approved the same.
ASM Technologies (ATL) is a global engineering and product R&D company.
