Rico Auto Industries is locked at upper circuit limit at Rs. 35.30, up by 1.65 points or 4.90% from its previous closing of Rs. 33.65 on the BSE.
The scrip opened at Rs. 34.30 and has touched a high and low of Rs. 35.30 and Rs. 32.70 respectively. So far 342033 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 36.55 on 23-Sep-2014 and a 52 week low of Rs. 5.46 on 26-Sep-2013.
Last one week high and low of the scrip stood at Rs. 36.55 and Rs. 32.10 respectively. The current market cap of the company is Rs. 477.56 crore.
The promoters holding in the company stood at 50.10% while Institutions and Non-Institutions held 0.81% and 49.08% respectively.
Rico Auto Industries has received an approval for divestment of the entire 50% stake of the company in FCC RICO, the joint venture (JV) between the company and FCC Co., Japan, to FCC Co., Japan or its affiliates, a FCC Group Company for gross consideration of Rs 495.00 crore.
The sale will be completed subject to completion of customary conditions precedent and such other regulatory conditions as may be required to be complied with as applicable. The board of directors at their meeting held on September 25, 2014 has approved has approved for the same.
Rico Auto Industries is a world-class engineering company supplying a wide range of high precision fully machined aluminum and ferrous components and assemblies to automotive OEMs across the globe.
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