Usha Martin surges as its arm incorporates joint venture company in Kingdom of Saudi Arabia
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Usha Martin is currently trading at Rs. 321.50, up by 6.45 points or 2.05% from its previous closing of Rs. 315.05 on the BSE.
The scrip opened at Rs. 315.25 and has touched a high and low of Rs. 323.00 and Rs. 315.25 respectively. So far 15101 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 373.60 on 11-Sep-2023 and a 52 week low of Rs. 125.25 on 23-Nov-2022.
Last one week high and low of the scrip stood at Rs. 323.00 and Rs. 292.65 respectively. The current market cap of the company is Rs. 9713.65 crore.
The promoters holding in the company stood at 47.51%, while Institutions and Non-Institutions held 15.89% and 36.60% respectively.
Usha Martin’s subsidiary -- Brunton Wire Ropes FZCo. (BWR) has incorporated a joint venture company namely Brunton Wire Ropes Industrial Company in the Kingdom of Saudi Arabia. Consequently, Brunton Wire Ropes Industrial Company has become a step-down joint venture of the Company. The step-down joint venture has been formed with the objective of distribution, manufacture, sale and application of Wire Ropes, Slings and allied products.
Usha Martin is one of the world’s leading manufacturer of wire rope.
