Texmo Pipes & Products is currently trading at Rs. 17.60, up by 0.50 points or 2.92% from its previous closing of Rs. 17.10 on the BSE.
The scrip opened at Rs. 16.95 and has touched a high and low of Rs. 17.80 and Rs. 16.80 respectively. So far 10746 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 21.70 on 16-Sep-2014 and a 52 week low of Rs. 4.43 on 11-Oct-2013.
Last one week high and low of the scrip stood at Rs. 19.15 and Rs. 16.30 respectively. The current market cap of the company is Rs. 40.73 crore.
The promoters holding in the company stood at 27.04% while Non-Institutions held 70.15% stake in the company.
Texmo Pipes & Products has received an approval to acquire 90% stake in Mangal Murti Minerals, a firm engaged in the mining business, as a strategic partner at the initial investment of Rs 1 crore. The company will further consider and explore into Mining business subject to transfer of requisite licenses/approvals required in this regard in the name of the said firm.
The board of directors at their meeting held on September 27, 2014 has approved for the same. The company has taken this step towards de-risking its business as it is currently engaged in Single Product manufacturing and marketing of pipes.
Further, in the near future the company will get finer new source of inflow from this operation and simultaneously it also provides diversity in the business of the company.
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