Essel Propack is currently trading at Rs. 148.00, up by 6.90 points or 4.89% from its previous closing of Rs. 141.10 on the BSE.
The scrip opened at Rs. 143.70 and has touched a high and low of Rs. 149.60 and Rs. 143.70 respectively. So far 49,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 149.60 on 14-Jul-2015 and a 52 week low of Rs. 93.75 on 14-Jul-2014.
Last one week high and low of the scrip stood at Rs. 149.60 and Rs. 131.10 respectively. The current market cap of the company is Rs. 2,325.00 crore.
The promoters holding in the company stood at 56.61% while Institutions and Non-Institutions held 13.71% and 29.69% respectively.
Essel Propack, a global leader in laminated plastic tubes catering to the FMCG & Pharma space, has divested its wholly owned subsidiary, Packaging India (PIPL) to Amcor Flexibles India with immediate effect. The enterprise value of the divested business is Rs 165 crore. The agreement has been signed and the deal is completed for full cash consideration.
The divestment is part of company’s strategy to exit non-core adhesive lamination packaging business and pursue growth opportunity in its core tube packaging business which has great potential across the globe in Beauty & Cosmetics, Pharma & Health and Food categories.
The deal will provide PIPL and its talent an opportunity to further grow and prosper in the flexible packaging space as part of Amcor, an Australia listed global packaging company engaged in flexible and rigid packaging.
