Wheels India inches up on getting nod to acquire upto 45.06% stake in O2 Renewable Energy
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Wheels India is currently trading at Rs. 843.00, up by 4.10 points or 0.49% from its previous closing of Rs. 838.90 on the BSE.
The scrip opened at Rs. 842.80 and has touched a high and low of Rs. 843.00 and Rs. 842.80 respectively. So far 2595 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 914.55 on 08-Jul-2024 and a 52 week low of Rs. 548.50 on 13-May-2024.
Last one week high and low of the scrip stood at Rs. 906.80 and Rs. 813.45 respectively. The current market cap of the company is Rs. 2049.69 crore.
The promoters holding in the company stood at 58.31%, while Institutions and Non-Institutions held 12.97% and 28.72% respectively.
Wheels India has received approval to acquire upto 45.06% in the equity share capital of M/s. O2 Renewable Energy XXVI, Maharashtra (O2 Renewable Energy), a renewable power generating Company. The objective of acquisition is to procure Renewable Power under Captive generation scheme.
In order to optimize the consumption of renewable energy, the Board of Directors of the Company at their meeting held on August 23, 2024, inter-alia, approved the acquisition.
Wheels India engages in the design, manufacture, and sale of automobile wheels in India.
