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Lumax Auto Technologies is currently trading at Rs. 386.00, up by 2.00 points or 0.52% from its previous closing of Rs. 384.00 on the BSE.
The scrip opened at Rs. 389.80 and has touched a high and low of Rs. 392.65 and Rs. 382.75 respectively. So far 7321 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.00 on 08-Aug-2023 and a 52 week low of Rs. 201.35 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 406.85 and Rs. 373.00 respectively. The current market cap of the company is Rs. 2624.07 crore.
The promoters holding in the company stood at 55.98%, while Institutions and Non-Institutions held 24.72% and 19.29% respectively.
Lumax Auto Technologies has received approval for the proposed acquisition of Lumax Ancillary (LAL) by acquiring the entire Equity Stake in the Paid up share capital of LAL. The company presently holds 14.31% of the Equity Share Capital of LAL and post the proposed acquisition, LAL would become a wholly owned subsidiary of the company.
Further, the proposed acquisition will help both the companies to leverage their respective competitive strengths in order to drive their business forward in the coming years and work towards unlocking potential synergies across products, customers, technology and manufacturing excellence. The proposed acquisition is expected to be completed by January 2024. The Board of Directors of the Company, at their Meeting held on December 26, 2023, has inter-alia, considered and approved the same.
Lumax Auto Technologies manufactures a wide range of automotive components. The company's products include drive transmission and steering components, body and chassis, and electrical components.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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