Skyline Millars is currently locked at its upper circuit limit of Rs. 5.19, up by 0.24 points or 4.85% from its previous closing of Rs. 4.95 on the BSE.
The scrip opened at Rs. 5.18 and has touched a high and low of Rs. 5.19 and Rs. 5.18 respectively.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 5.85 on 17-Apr-2012 and a 52 week low of Rs. 3.53 on 02-Jan-2012.
Last one week high and low of the scrip stood at Rs. 5.39 and Rs. 4.90 respectively. The current market cap of the company is Rs. 20.88 crore.
The promoters holding in the company stood at 71.40% while Non-Institutions held 28.60% stake in the company.
Skyline Millars has received an approval to shift the manufacturing operations of construction equipment (which are already on a reduced scale) from the company’s said one industrial shed at Karamsad to the company’s facility at Umreth. The said shifting is expected to be completed by October, 2012 and there would be marginal operation loss in the manufacturing activity. The board at its meeting held on August 06, 2012 has approved for the same.
The board has approved for the above as the lease of the industrial land at Karamsad on which the company had erected three heavy Industrial sheds out of which one shed was used by the company for the manufacturing activity of construction equipment and the remaining two sheds were given on rent to another company has been already expired. Since there being no prospect for renewal of the lease of the aforesaid industrial land and even it is in the interest of the company to shift the manufacturing operation carried out in the said shed, to the company’s existing facility at Umreth in Anand district.
Skyline Millars main activities are manufacturing of construction equipment and EOT cranes. It has recently entered into property development business. The company has also taken up property development business and is building Skyline Oasis, near Vidyavihar Staion in Mumbai.
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