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Mohit Industries rises on receiving approval to demerge AAC Blocks business

01 Jun 2015

Mohit Industries is currently trading at Rs. 60.80, up by 0.75 points or 1.25% from its previous closing of Rs. 60.05 on the BSE.

The scrip opened at Rs. 64.90 and has touched a high and low of Rs. 64.90 and Rs. 60.70 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 67.95 on 28-May-2015 and a 52 week low of Rs. 27.15 on 17-Jul-2014.

Last one week high and low of the scrip stood at Rs. 67.95 and Rs. 58.05 respectively. The current market cap of the company is Rs. 86.08 crore.

The promoters holding in the company stood at 67.77% while Non-Institutions held 32.23% respectively.

Mohit Industries has received an approval for demerger of AAC Blocks (Aerated Autoclave Concrete) business into a separate company. The board of directors at their meeting held on May 30, 2015 has approved for the same.

This step has been taken in order to achieve operational, administrative efficiencies and with a view to concentrate on the focused business, facilitate expansion, or any other arrangement depending on the opportunity in the future.

Mohit Industries is one of the top notch manufacturers of fabrics & texturised yarn in the nation. It has recently diversified into the construction materials industry in adherence to its long term vision and goals.

Related Mohit Industries Ltd. Links:

Mohit Industries Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323