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Kanoria Chemicals shines as its arm acquires 100% stake in CoSyst

06 Apr 2015 Evaluate

Kanoria Chemicals & Industries is currently trading at Rs 45.75, up by 4.15 points or 9.98% from its previous closing of Rs 41.60 on the BSE.

The scrip opened at Rs. 41.80 and has touched a high and low of Rs. 46.00 and Rs. 41.80 respectively. So far 49396 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 5 has touched a 52 week high of Rs. 55.00 on 04-Jun-2014 and a 52 week low of Rs. 28.25 on 04-Apr-2014.

Last one week high and low of the scrip stood at Rs. 42.00 and Rs. 38.00 respectively. The current market cap of the company is Rs. 198.80 crore.

The promoters holding in the company stood at 74.43% while Institutions and Non-Institutions held 2.01% and 23.56% respectively.

Kanoria Chemicals & Industries’ wholly owned subsidiary - APAG Holding AG, Switzerland (APAG), has acquired 100% stake in CoSyst Control Systems GmbH based in Nuremberg, Germany (CoSyst) for a purchase consideration of euro 640,500. As a part of the transaction APAG will also take over the loan amounting to euro 209,500 provided by the erstwhile shareholders to CoSyst.

CoSyst is engaged in development of project and customer specific products primarily for automotive electronics and it is strategic fit for APAG’s expanding operation. With this APAG operations will be spread over Switzerland, Czech Republic and Germany.

APAG is also contemplating to have a sales organization for its existing lines of business in North America by incorporating a wholly owned subsidiary either in USA or in Mexico.

Kanoria Chem. & Inds Share Price

95.05 -3.89 (-3.93%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
BASF India 4035.90
Tata Chemicals 782.10
SRF 2780.75
Pidilite Inds. 1476.15
Deepak Nitrite 1875.25
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