Shakti Pumps zooms on investing Rs 5.08 crore in wholly owned subsidiary
Shakti Pumps (India) is currently trading at Rs. 1842.20, up by 84.65 points or 4.82% from its previous closing of Rs. 1757.55 on the BSE.
The scrip opened at Rs. 1757.55 and has touched a high and low of Rs. 1845.40 and Rs. 1702.00 respectively. So far 13151 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1850.00 on 24-Apr-2024 and a 52 week low of Rs. 406.20 on 08-May-2023.
Last one week high and low of the scrip stood at Rs. 1850.00 and Rs. 1469.65 respectively. The current market cap of the company is Rs. 3692.37 crore.
The promoters holding in the company stood at 51.58%, while Institutions and Non-Institutions held 9.45% and 38.97% respectively.
Shakti Pumps (India) has invested Rs 5.08 crore in its wholly owned subsidiary i.e. Shakti EV Mobility (formerly known as Shakti Green Industries) by subscribing to Equity Shares of nominal value of Rs 10. The consolidated investment is Rs 32 crore after subscribing aforesaid equity shares.
This investment is to initiate and expand the business of the wholly owned subsidiary. Since, the company is making an investment into its wholly owned subsidiary therefore the equity shares will be issued time to time as per the agreement.
Shakti Pumps (India) is a specialist in the manufacture of a broad range of submersible pumps and motors for a variety of applications.
