Shriram Pistons & Rings rises on acquiring 100% equity shareholding in Karna Intertech
Shriram Pistons & Rings is currently trading at Rs. 1885.90, up by 21.65 points or 1.16% from its previous closing of Rs. 1864.25 on the BSE.
The scrip opened at Rs. 1889.95 and has touched a high and low of Rs. 1893.95 and Rs. 1839.65 respectively. So far 3668 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2100.00 on 04-Feb-2025 and a 52 week low of Rs. 1651.00 on 04-Mar-2025.
Last one week high and low of the scrip stood at Rs. 1910.20 and Rs. 1812.35 respectively. The current market cap of the company is Rs. 8306.70 crore.
The promoters holding in the company stood at 43.75%, while Institutions and Non-Institutions held 17.56% and 38.69% respectively.
Shriram Pistons & Rings (SPRL) has acquired 100% equity shareholding in Karna Intertech (Karna) on April 1, 2025 and accordingly, Karna has become a wholly owned subsidiary of the company. Karna is a key supplier of gravity die casting moulds to SPRL, which are utilised in the manufacturing of piston castings. SPRL provides the mould design, which is extremely sensitive and confidential. Karna can produce high-precision items to the greatest levels of quality because of its highly skilled workforce.
In light of the above, and to leverage synergies while catering to the future requirements of SPRL’s existing plants, the acquisition would be beneficial in the long-term growth of the Company.
Shriram Pistons & Rings (SPR) is one of the India's oldest and most reputed industrial houses, recognized by almost all OEMs of India and several OEMs in Europe and Asia.
