Sanghvi Movers gains on incorporating wholly owned subsidiary in Saudi Arabia
Sanghvi Movers is currently trading at Rs. 317.55, up by 3.10 points or 0.99% from its previous closing of Rs. 314.45 on the BSE.
The scrip opened at Rs. 309.35 and has touched a high and low of Rs. 319.65 and Rs. 307.00 respectively. So far 17186 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 741.50 on 16-May-2024 and a 52 week low of Rs. 302.45 on 22-Nov-2024.
Last one week high and low of the scrip stood at Rs. 336.75 and Rs. 307.00 respectively. The current market cap of the company is Rs. 2745.32 crore.
The promoters holding in the company stood at 47.25%, while Institutions and Non-Institutions held 6.59% and 46.16% respectively.
Sanghvi Movers has incorporated a wholly owned subsidiary company namely 'Sanghvi Movers Middle East’ (Limited Liability Company) in Kingdom of Saudi Arabia. The objective of incorporation is to provide construction equipment rental and allied services and to cater to the increasing market base/business in Kingdom of Saudi Arabia. Sanghvi Movers Middle East will carry on crane rental and allied business in Kingdom of Saudi Arabia.
Sanghvi Movers is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector.
