Sellwin Traders touches roof on getting nod to make strategic investment in Patel Container India

18 May 2024 Evaluate

Sellwin Traders is currently trading at its upper circuit limit of Rs. 23.07, up by 1.09 points or 4.96% from its previous closing of Rs. 21.98 on the BSE.

The scrip opened at Rs. 23.07 and has touched a high and low of Rs. 23.07 and Rs. 23.07 respectively. So far 2008 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 25.35 on 30-Apr-2024 and a 52 week low of Rs. 8.15 on 14-Jul-2023.

Last one week high and low of the scrip stood at Rs. 23.07 and Rs. 19.65 respectively. The current market cap of the company is Rs. 18.92 crore.

The Non-Institutions held 100% stake in the company.

Sellwin Traders has received approval to make a strategic investment in Patel Container India, acquiring a 36% stake (Extendible up to 51% stake) over the next two years. This investment will support the establishment of a new manufacturing facility for logistic containers in Bhavnagar District, Gujarat.

Patel Container has secured a Memorandum of understanding (MoU) with the Government of Gujarat under the Vibrant Gujarat Global Summit 2024, ensuring governmental facilitation for obtaining necessary permissions, registrations, approvals, and clearances. The location in Bhavnagar offers strategic advantages, including proximity to major ports and trade routes, which will optimize logistics and distribution. With the backing of the government and a burgeoning market demand for logistic containers driven by the growth in ecommerce and trade activities in India, This investment aligns well with Sellwin Traders’ strategic goals. The Board of Directors of the company at its meeting held on May 17, 2024 has approved the same.

Sellwin Traders have been Providing Services in Real Estate and Properties, Investment and Trading in Shares & Securities, investment in properties, Providing Finance related services and other advisory.

Sellwin Traders Share Price

23.85 -1.21 (-4.83%)
31-May-2024 16:01 View Price Chart
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