Kanani Industries touches roof on plan to incorporate wholly owned subsidiary in UAE

11 Jul 2016

Kanani Industries is currently locked at upper circuit limit at Rs. 23.90, up by 1.10 points or 4.82% from its previous closing of Rs. 22.80 on the BSE.

The scrip opened at Rs. 23.40 and has touched a high and low of Rs. 23.90 and Rs. 23.30 respectively. So far 27,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 23.90 on 11-Jul-2016 and a 52 week low of Rs. 6.04 on 21-Sep-2015.

Last one week high and low of the scrip stood at Rs. 23.90 and Rs. 21.00 respectively. The current market cap of the company is Rs. 236.45 crore.

The promoters holding in the company stood at 74.83%, while Non-Institutions hold 25.17% respectively.

Kanani Industries is planning to incorporate wholly owned subsidiary in United Arab Emirates [UAE]. With this subsidiary, the company will further expand its business and diversify the geographical market.

Kanani Industries is an India-based company, which is engaged in diamonds studded jewelry business. The Company exports its products to global markets, such as the United States of America, Hong Kong and Middle East.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323