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Pearl Global Industries is currently trading at Rs. 557.00, up by 13.00 points or 2.39% from its previous closing of Rs. 544.00 on the BSE.
The scrip opened at Rs. 544.15 and has touched a high and low of Rs. 561.10 and Rs. 544.15 respectively. So far 70 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 615.05 on 30-Aug-2022 and a 52 week low of Rs. 334.35 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 561.10 and Rs. 512.60 respectively. The current market cap of the company is Rs. 1178.52 crore.
The promoters holding in the company stood at 66.58%, while Institutions and Non-Institutions held 6.41% and 27.01% respectively.
Pearl Global Industries (PGIL) has acquired a 55% stake in Pearl GT Holdco for a consideration of $550,000. The acquisition will be funded through internal accruals. Pearl GT Holdco is incorporated as the holding Company of Shoretex Sociedad Anonima (Shoretex), and Corporacion de Productos y Servicios Asociados, Sociedad Anonima (Corpasa).
Shoretex and Corpasa is incorporated in Guatemala and is engaged in the business of Manufacturing and Trading in Garments. By way of this acquisition, the company is exploring near shore manufacturing opportunities in the Central America region. This strategic initiative aims to add value to the company's growth by diversifying its manufacturing capabilities and expanding its geographical reach. This move enables PGIL to further strengthen its presence in three of the four major sourcing bases, catering to the evolving needs of its customers. Post the acquisition, Pearl GT Holdco shall incur a capex of up to $2,000,000 in the subsidiary to expand capacities across 12 lines which shall generate annual revenue of $ 20 Million.
Pearl Global Industries is an end-to-end clothing vendor and supplier with a presence across the globe.
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Here is the summary:
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