Raymond subsidiary RPAL to sell 1.04 crore shares to Neel Metals Products

India Infoline News Service | Mumbai | September 22, 201616:32 IST

Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond Ltd. The Enterprise Value of ROSE was estimated at Rs.20.19 crore.


Raymond Ltd has informed BSE that Ring Plus Aqua Limited (RPAL), an unlisted subsidiary of Raymond Ltd. has entered into a Share Purchase Agreement with Neel Metals Products Limited, to transfer by way of sale its entire equity share holding of 1,04,30,631 equity shares in its 50:50 Joint Venture Company namely; Rose Engineered Products India Private Limited (ROSE).

Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond Ltd. The Enterprise Value of ROSE was arrived at Rs.20.19 crore.

The stock ended at Rs. 528.6, up by Rs. 3.95 or 0.75% from its previous closing of Rs. 524.65 on the BSE.

The scrip opened at Rs. 535 and touched a high and low of Rs. 541 and Rs. 524.3 respectively. A total of 739304(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3220.35 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 544 on 21-Sep-2016 and a 52 week low of Rs. 351.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 544 and Rs. 451.95 respectively.

The promoters holding in the company stood at 41.85 % while Institutions and Non-Institutions held 19.81 % and 37.03 % respectively.

The stock traded above its 100 DMA.
BSE 561.00 2.05 (0.37%)

***Note: This is a NSE Chart

 

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