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Pricol surges on selling 100% stake in CMWL for Rs 13 crore

28 Jan 2016 Evaluate

Pricol is currently trading at Rs. 45.70, up by 1.10 points or 2.47% from its previous closing of Rs. 44.60 on the BSE.

The scrip opened at Rs. 44.95 and has touched a high and low of Rs. 46.60 and Rs. 44.45 respectively. So far 149155 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 46.60 on 29-Jan-2015 and a 52 week low of Rs. 27.30 on 24-Mar-2015.

Last one week high and low of the scrip stood at Rs. 46.60 and Rs. 41.25 respectively. The current market cap of the company is Rs. 432.27 crore.

The promoters holding in the company stood at 40.21% while Institutions and Non-Institutions held 3.55% and 56.24% respectively.

Pricol has sold its 100% shareholding in wholly owned subsidiary company -- Coimbatore Metal Works (CMWL) for a consideration of Rs 13 crore. The company has entered into Share Purchase Agreement for Sale of Shares on 21 January 2016. Subsequent to the aforesaid sale Coimbatore Metal Works is no longer a wholly owned subsidiary company of Pricol and no longer a part of Pricol Group. 

Pricol is engaged in the manufacture and export of a complete range of automotive components starting from instrument clusters, dashboard meters, fuel sensors, oil pressure switches, speedometer drive cables, fuel cut off valve, filter suction, etc.

Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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