White Organic Agro shines on getting nod to form subsidiary company in UAE

13 Jun 2017

White Organic Agro is currently trading at Rs. 67.90, up by 1.80 points or 2.72% from its previous closing of Rs. 66.10 on the BSE.

The scrip opened at Rs. 69.00 and has touched a high and low of Rs. 69.00 and Rs. 64.00 respectively. So far 7421 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.50 on 24-Apr-2017 and a 52 week low of Rs. 11.81 on 07-Jul-2016.

Last one week high and low of the scrip stood at Rs. 69.80 and Rs. 64.00 respectively. The current market cap of the company is Rs. 84.88 crore.

The promoters holding in the company stood at 27.56%, while Non-Institutions held 72.44% stake in the company.

White Organic Agro has received its board’s approval to form wholly owned subsidiary company in the United Arab Emirates. The board has also approved the investment in the said subsidiary up to AED 15 Million. Aforementioned strategic expansion has been approved to strengthen the future Organic exports business of the company and strengthen the global presence of the company in organic sector.

White Organic Agro (formerly White Diamond Industries) along with its subsidiary is engaged in business of trading in cut and polished diamonds, and real estate and infrastructure. It has announced changes in objects of the company from Diamond Industry to Organic Agricultural activities, change in objects and name of subsidiary to White Organic Retail.

Related White Organic Agro Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323