Somany Ceramics to sell its entire stake in Amora Ceramics; Stock down near 2%

23 Sep 2022 , 01:54 PM

The Administrative Committee of Somany Ceramics Limited in its meeting held on September 21, 2022 has decided to sell its equity stake in Amora Ceramics Private Limited (“ACPL”), the subsidiary of the Company.

Notably, the Company is holding 51% of the total paid up capital of the ACPL and it has decided to sell its entire stake/investment in the equity shares of ACPL.

Consequently, Amora Ceramics Private Limited will cease to be the subsidiary of the Company after completion of disinvestment.

At around 2:01 PM, Somany Ceramics Ltd is currently trading at Rs588.65 per share down by Rs10.4 or 1.74% from its previous closing of Rs599.05 per share on the BSE.

The scrip opened at Rs599.05 per share and has touched a high and low of Rs599.95 per share and Rs585 per share respectively so far today. The current market cap of the company is Rs2,544.42 crore.

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