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Excel Crop Care surges on receiving nod to wind-up its subsidiary in Australia

03 Nov 2017

Excel Crop Care is currently trading at Rs. 2068.00, up by 302.10 points or 17.11% from its previous closing of Rs. 1765.90 on the BSE.

The scrip opened at Rs. 2119.05 and has touched a high and low of Rs. 2119.05 and Rs. 2014.85 respectively. So far 14,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 2119.05 on 03-Nov-2017 and a 52 week low of Rs. 1600.00 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 2119.05 and Rs. 1702.00 respectively. The current market cap of the company is Rs. 2,267.00 crore.

The promoters holding in the company stood at 64.97%, while Institutions and Non-Institutions held 9.68% and 25.35% respectively.

Excel Crop Care has received an approval to wind up or otherwise close down Excel Crop Care (Australia), the company’s wholly-owned subsidiary in Australia. The board of directors at its meeting held on November 2, 2017 has approved for the same.

The major function of the Australian subsidiary is to hold and maintain Product Registrations in Australia in respect of the company’s products. The company has made alternative arrangement for this purpose.

Excel Crop Care is engaged in manufacture and trading of Pesticides. Besides solutions in soil health, seed treatment, crop protection, pest management, Excel Crop Care also offers effective post-harvest treatment that has ensured smooth supply and trade in agricultural commodities in many countries.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323