Uniply Industries is currently trading at Rs. 276.30, up by 3.75 points or 1.38% from its previous closing of Rs. 272.55 on the BSE.
The scrip opened at Rs. 278.55 and has touched a high and low of Rs. 284.50 and Rs. 271.30 respectively. So far 63,400 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 390.00 on 12-Jun-2017 and a 52 week low of Rs. 170.10 on 12-Aug-2016.
Last one week high and low of the scrip stood at Rs. 310.00 and Rs. 249.40 respectively. The current market cap of the company is Rs. 660.56 crore.
The promoters holding in the company stood at 33.22%, while Institutions and Non-Institutions held 2.14% and 64.63% respectively.
Uniply Industries is planning to sell its plywood division to its subsidiary UV Boards as part of a Rs 300 crore deal that will take Uniply’s holding in the subsidiary to 37 per cent from the present 8 per cent.
The transaction involves UV Boards issuing shares worth Rs 111 crore to Uniply, acquiring for Rs 42 crore Uniply’s Gujarat facility and paying Rs 75 crore for licence to use Uniply’s trademark, which will be paid equally over 10 years, in advance at the start of the year. The balance will be a consideration of Rs 72 crore. The balance in UV Boards’ stake prior to the transaction and subsequently is held by public shareholders.
Uniply will focus on design and build projects where it now has an Rs 1,050 crore order book that it hopes to scale up significantly.
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