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Binani Industries surges as its arm sells majority of the assets to Core Molding Technology

23 Mar 2015 Evaluate

Binani Industries is currently trading at Rs. 95.00, up by 1.00 points or 1.06% from its previous closing of Rs. 94.00 on the BSE.

The scrip opened at Rs. 94.00 and has touched a high and low of Rs. 97.40 and Rs. 91.20 respectively. So far 15136 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.90 on 09-Jul-2014 and a 52 week low of Rs. 70.00 on 25-Mar-2014.

Last one week high and low of the scrip stood at Rs. 100.40 and Rs. 93.50 respectively. The current market cap of the company is Rs. 275.25 crore.

The promoters holding in the company stood at 51.28% while Institutions and Non-Institutions held 2.71% and 46.02% respectively.

Binani Industries’ wholly owned subsidiary -- CPI Binani, Inc, USA -- has sold its majority of the assets to Core Molding Technology, Inc thereby exited from its composite business.

The business portfolio of Binani Industries includes sectors like cement, zinc, glass-fiber and downstream composite products.

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