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Sundaram Clayton surges on receiving approval to invest $8 million in die-casting facility

05 Aug 2015 Evaluate

Sundaram Clayton is currently trading at Rs. 2162.00, up by 179.00 points or 9.03% from its previous closing of Rs. 1983.00 on the BSE.

The scrip opened at Rs. 2,000.00 and has touched a high and low of Rs. 2,162.00 and Rs. 2,000.00 respectively.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 2162.00 on 05-Aug-2015 and a 52 week low of Rs. 1197.00 on 08-Aug-2014.

Last one week high and low of the scrip stood at Rs. 2162.00 and Rs. 1880.00 respectively. The current market cap of the company is Rs. 4,248.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 15.16% and 9.84% respectively.

Sundaram Clayton has received an approval for an investment of a sum not exceeding $8 million in tranches in a die-casting facility proposed to be established in United States (US) for catering to the needs of overseas customers. The board of directors at their meeting held on August 04, 2015 have approved for the same.

The investment is subject to such permissions / consents under Indian and US Laws and subject to a detailed Project Report submission for evaluation in the next board meeting.

Sundaram Clayton is one of the largest suppliers of aluminium die castings in the country. The company exports its products to international Original Equipment Manufacturers.


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