McNally Bharat surges as its Singaporean arm sells 90% stake in manufacturing subsidiary

Mcnally Bharat Engineering Company Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 532629 | NSE: MBECL

26 May 2014 Evaluate

Mcnally Bharat Engineering Company is currently trading at Rs. 101.50, up by 3.10 points or 3.15% from its previous closing of Rs. 98.40 on the BSE.

The scrip opened at Rs. 100.60 and has touched a high and low of Rs. 102.90 and Rs. 99.60 respectively. So far 50816 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 102.90 on 26-May-2014 and a 52 week low of Rs. 37.00 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 102.90 and Rs. 81.20 respectively. The current market cap of the company is Rs. 314.05 crore.

The promoters holding in the company stood at 32.28% while Institutions and Non-Institutions held 14.00% and 53.72% respectively.

McNally Bharat Engineering Company’s 100% subsidiary in Singapore has sold 90% of its holding in its manufacturing subsidiary based in Cologne Germany, at a consideration of Euro 1.5 million.

This investment has already been written off in the books of the Singapore subsidiary in FY’12-13, hence this transaction shall reflect a profit on of Euro 1.5 million in the consolidated PL of McNally Bharat in FY’14-15. This transaction shall also reduce Euro 3.9 million debt in the consolidated Balance Sheet of the company in FY’14-15.

McNally Bharat Engineering Company is one of the leading engineering companies. It provides turnkey solutions in areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc.

Mcnally Bharat Engg. Share Price

3.24 0.00 (0.00%)

20-Feb-2025 16:59 View Price Chart

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