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Acropetal Technologies gains on receiving approval to acquire 30% stake in Optech

Acropetal Technologies Ltd. | IT - Software | IT & ITES | BSE: 533330 | NSE: ACROPETAL

30 Apr 2012 Evaluate

Acropetal Technologies is currently trading at Rs. 13.29, up by 0.21 points or 1.61% from its previous closing of Rs. 13.08 on the BSE.

The scrip opened at Rs. 13.15 and has touched a high and low of Rs. 14.00 and Rs. 13.01 respectively. So far 14,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.90 on 29-Apr-2011 and a 52 week low of Rs. 10.75 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 14.49 and Rs. 12.81 respectively. The current market cap of the company is Rs. 51.00 crore.

The promoters holding in the company stood at 47.56% while Institutions and Non-Institutions held 3.36% and 49.08% respectively.

Acropetal Technologies has received an approval to purchase / acquire 30% stake in Optech Consulting Inc, USA, a subsidiary of the company, for a consideration of $2.10 million. At present the company is holding 70% in the subsidiary and with the present acquisition of remaining 30%, Optech Consulting Inc, becomes a wholly owned subsidiary of the company. The board at its meeting held on April 27, 2012 has approved for the same.

Besides, the company has also decided to merge the two subsidiaries in the USA - Acropetal Inc, and Optech Consulting Inc, subject to the approvals from the concerned authorities in the USA.

Further, the company has also received board’s approval to open a branch office of the company in Dubai (UAE).

Acropetal Technologies offers a broad spectrum of Engineering Design Services to reduce product design cycle time and costs. The portfolio of services includes concept design, product design and development, advanced analysis, reliability engineering and value engineering.

Acropetal Tech Share Price

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Acropetal Technologies gains on receiving approval to acquire 30% stake in Optech

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