Kanani Industries rises on plan to incorporate wholly owned subsidiary in UAE

12 Jul 2016

Kanani Industries is currently trading at Rs 24.30, up by 0.45 points or 1.89% from its previous closing of Rs 23.85 on the BSE.

The scrip opened at Rs 25.00 and has touched a high and low of Rs. 25.00 and Rs. 23.30 respectively. So far 98494 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs 25.00 on 12-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 25.00 and Rs. 22.00 respectively. The current market cap of the company is Rs. 238.93 crore.

The promoters holding in the company stood at 74.83%, while Institutions held 25.17% stake.

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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SEBI Registered: Investment Adviser - INA000013323