Atlas Cycles (Haryana) surges on receiving nod to sell its Malanpur unit in Madhya Pradesh

21 Sep 2015

Atlas Cycles (Haryana) is currently trading at Rs. 199.80, up by 11.20 points or 5.94% from its previous closing of Rs. 188.60 on the BSE.

The scrip opened at Rs. 191.00 and has touched a high and low of Rs. 204.00 and Rs. 186.00 respectively. So far 20,000 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 301.75 on 19-Sep-2014 and a 52 week low of Rs. 155.00 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 204.00 and Rs. 164.10 respectively. The current market cap of the company is Rs. 64.94 crore.

The promoters holding in the company stood at 44.73% while Institutions and Non-Institutions held 0.45% and 54.82% respectively.

Atlas Cycles (Haryana) has received an approval to sell its Malanpur unit located in the state of Madhya Pradesh as it is closed down since almost one year. The board of directors at its meeting held on September 07, 2015 has approved for the same.

The board has also resolved to change the registered office of the company from the state of Haryana to the National Capital Territory of Delhi in order to run its business more efficiently and economically.

Atlas Cycles (Haryana) is one of India’s oldest and most trusted cycling companies. Atlas Cycles started its odyssey way back in 1951 and today it is one of the largest manufacturers of bicycles in the world.

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