Sunita Tools touches the roof on signing MoU with Imperial Auto Crafts
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Sunita Tools is currently trading at its upper limit of Rs. 852.60, up by 40.60 points or 5.00% from its previous closing of Rs. 812.00 on the BSE.
The scrip opened at Rs. 852.60 and has touched a high and low of Rs. 852.60 and Rs. 852.60 respectively. So far 5500 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 852.60 on 25-Jul-2024 and a 52 week low of Rs. 116.50 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 852.60 and Rs. 703.00 respectively. The current market cap of the company is Rs. 520.94 crore.
The promoters holding in the company stood at 72.98%, while Non-Institutions held 27.02% stake in the company.
Sunita Tools has signed a Memorandum of Understanding (MoU) with Imperial Auto Crafts, a renowned entity in the engineering and aerospace sector. This strategic move aims to enhance Sunita Tools' capabilities and expand its market presence through the acquisition of Imperial Auto Crafts' business.
The acquisition will be facilitated through Sunita Tools' wholly-owned subsidiary, Sunita Imperial Aerospace, which is proposed to be incorporated as part of this agreement. This strategic move aligns with Sunita Tools' vision of expanding its business on a larger scale and diversifying its portfolio. The MOU outlines the key terms and conditions under which the acquisition will take place. Both parties are committed to a smooth transition and are working closely to ensure the continuity of operations and seamless integration of Imperial Auto Crafts' business into Sunita Tools' operations.
This acquisition will allow Sunita Tools to leverage Imperial Auto Crafts' established expertise in the aerospace sector, enabling the company to offer a broader range of services and solutions to its clients. The move is expected to strengthen Sunita Tools' market position and open new avenues for growth and innovation.
Sunita Tools has been in the Engineering and Mould base Industry for more than three decades providing one of its kind customized solutions to various industries.
