DCM shines on getting nod for business restructuring plan

17 Oct 2016 Evaluate

DCM is currently trading at Rs 117.35, up by 19.55 points or 19.99% from its previous closing of Rs. 97.80 on the BSE.

The scrip opened at Rs. 100.75 and has touched a high and low of Rs. 117.35 and Rs. 100.75 respectively. So far 244027 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 117.35 on 17-Oct-2016 and a 52 week low of Rs. 65.65 on 24-Feb-2016.

Last one week high and low of the scrip stood at Rs. 117.35 and Rs. 90.85 respectively. The current market cap of the company is Rs. 219.18 crore.

The promoters holding in the company stood at 48.54%, while Institutions and Non-Institutions held 8.48% and 42.98% respectively.

DCM has received its board’s approval for restructuring of its business including demerger of real estate business. The board at its meeting held on October 15, 2016 approved the de-merger of real estate undertaking of DCM and merging it into DCM Realty and Infrastructure.

The company’s board also approved amalgamation of TIARA Investment Holdings into Purearth Infrastructure. The amalgamation of Purearth Infrastructure into DCM Realty and Infrastructure will after the above mentioned moves are carried out.

Further, the company’s board approved the demerger of cotton textiles business of DCM to DCM Nouvelle, such that post demerger shares of DCM Nouvelle will be held by shareholders of DCM in the same proportion as their shareholding in DCM.

The shareholders of DCM will get one equity share of Rs 10 each of the DCM Realty and Infrastructure and DCM Nouvelle for every one share held by them. DCM Realty and Infrastructure and DCM Nouvelle will list on the stock exchanges.

DCM is one of India’s largest conglomerates into a number of manufacturing activities such as Textiles, Sugar, Chemicals, Rayon, Tyre Cord, Fertilizers, Information Technology and Engineering Products etc.

DCM Share Price

77.45 -0.30 (-0.39%)
02-Feb-2023 18:01 View Price Chart
Company Name CMP
Trident 33.15
Filatex India 42.20
Nahar Spinning Mills 243.65
Sutlej Textiles&Inds 59.60
Nitin Spinners 209.80
View more..