Wheels India shines on getting nod to hike stake in Axles India
Wheels India is currently trading at Rs. 790.00, up by 20.70 points or 2.69% from its previous closing of Rs. 769.30 on the BSE.
The scrip opened at Rs. 780.30 and has touched a high and low of Rs. 798.00 and Rs. 777.75 respectively. So far 930 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. 548.00 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 798.00 and Rs. 733.05 respectively. The current market cap of the company is Rs. 1903.58 crore.
The promoters holding in the company stood at 58.31%, while Institutions and Non-Institutions held 12.06% and 29.63% respectively.
Wheels India has received approval for acquisition of 7,64,533 equity shares of Axles India from Forge 2000 at a total consideration of Rs 22.68 crore. The proposed transaction is likely to be completed before August 31, 2025. The company currently holds 9.51% of the share capital of Axles India and with this acquisition, the shareholding percentage increase will from 9.51% to 12.51%. The board of directors in its meeting held on June 25, 2025 have approved the same.
Wheels India engages in the design, manufacture, and sale of automobile wheels in India.
