Cimmco touches the roof on getting industrial licence for manufacturing defence equipment

23 Apr 2015

Cimmco is currently trading at its upper circuit limit of Rs. 116.90, up by 10.60 points or 9.97% from its previous closing of Rs. 106.30 on the BSE.

The scrip opened at Rs. 113.40 and has touched a high and low of Rs. 116.90 and Rs. 112.50 respectively. So far 73661 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 122.50 on 17-Mar-2015 and a 52 week low of Rs. 21.43 on 23-Apr-2014.

Last one week high and low of the scrip stood at Rs. 116.90 and Rs. 92.00 respectively. The current market cap of the company is Rs. 235.54 crore.

The promoters holding in the company stood at 74.92% while Institutions and Non-Institutions held 2.43% and 22.65% respectively.

Cimmco, a subsidiary of wagon and railway coach manufacturer Titagarh Wagons, has received industrial licence for manufacturing defence equipment. The Department of Industrial Policy and Promotion (DIPP) licence would help the group’s foray into the defence sector in a big way.

Titagarh Wagons had already expressed its intentions to convert its 75% subsidiary, Cimmco, into a defence equipment manufacturing firm.

Cimmco is engaged in business activities in wool and blended fabrics, ready-to-wear garments, plastic co-extruded films, sheets and BOPP films, thermosetting resins, heavy engineering, railway wagons, manufacture of complete plants for cement, etc.

 

Related Cimmco Ltd. Links:

Cimmco Share Price

13.40 0.63 (4.93%) Apr 08, 18:01
1 Year Price Chart
Peers
Company Name CMP
Texmaco Rail & Eng. 23.10
Titagarh Wagons 31.25
Cimmco 13.40
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Sensex vs Cimmco
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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