Lakshmi Machine Works is currently trading at Rs. 2077.00, down by 34.40 points or 1.07% from its previous closing of Rs. 2099.40 on the BSE.
The scrip opened at Rs. 2100.00 and has touched a high and low of Rs. 2101.95 and Rs. 2058.00 respectively. So far 2376 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2330.00 on 09-Jan-2013 and a 52 week low of Rs. 1497.80 on 24-May-2012.
Last one week high and low of the scrip stood at Rs. 2130.00 and Rs. 2050.00 respectively. The current market cap of the company is Rs. 2323.38 crore.
The promoters holding in the company stood at 28.34% while Institutions and Non-Institutions held 28.71% and 42.95% respectively.
The Competition Commission of India (CCI) has shut the case against Lakshmi Machine Works (LMW) as Shahi Exports had approached the Commission alleging that LMW had abused its dominant position in sale of spinning machinery for textiles. Shahi Exports had pointed that LMW had unilaterally increased prices and imposed unfair terms and conditions in a contract the two parties had signed, given its dominant position in the market.
CCI has examined the information and found that, despite LMW being a dominant player; it had not contravened the provisions of Section 4 Competition Act (abuse of dominance). Meanwhile, Lakshmi Machine Works had submitted that the price increase was due to increase in costs of raw material and labor.
Company Name | CMP |
---|---|
Lakshmi Machine Work | 15655.60 |
Stovec Inds | 3240.00 |
Harish Textile Engin | 53.32 |
Veejay Lakshmi Engg | 53.27 |
Indian Card Clothing | 269.80 |
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