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Stone India enters into JV with Shenyang Brilliant Elevator

Stone India Ltd, a supplier of railway brake system and other engineering products for Indian railways, has entered into an equal joint venture agreement with Shenyang Brilliant Elevator Group Co Ltd of China.

January 19, 2016 8:51 IST | India Infoline News Service
News Newspaper Text
Stone India Ltd, a supplier of railway brake system and other engineering products for Indian railways, has entered into an equal joint venture agreement with Shenyang Brilliant Elevator Group Co Ltd of China to make a foray into the elevator and escalator market.

Stone India Ltd ended at Rs. 75, down by Rs. 6.2 or 7.64% from its previous closing of Rs. 81.2 on the BSE.
The scrip opened at Rs. 80.3 and touched a high and low of Rs. 82 and Rs. 74.5 respectively. A total of 69342(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 71.97 crore.
The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 105.4 on 05-Jan-2016 and a 52 week low of Rs. 41.1 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 96.9 and Rs. 74.5 respectively.
The promoters holding in the company stood at 44.87 % while Institutions and Non-Institutions held 0.01 % and 55.12 % respectively.
The stock traded above its 50 DMA.

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