Pitti Laminations (PLL) has acquired 35,70,000 shares of Rs 10 each of Pitti Castings (PCPL) which constitutes 51% of the capital of PCPL. Pursuant to this acquisition, PCPL has become a subsidiary of PLL. Besides, at its board meeting held on June 28, 2012, PCPL has allotted 35,70,000 shares to PLL.
Further, the investment made by PLL in PCPL is in accordance with the resolutions passed by its board of directors and approval of members for creation of subsidiary through postal ballot in January 2012.
PLL is engaged in the manufacturing of electrical laminations with an installed capacity of 25,000 MTPA for the use in Rotating Electrical Machinery such as industrial motors, aeronautic wing control motors etc. The company also manufactures die-cast rotors and assembled stators, besides manufacture and sale of press tools, jigs and fixture.
| Company Name | CMP |
|---|---|
| BHEL | 316.70 |
| Thermax | 4141.20 |
| Kirloskar Oil Eng | 1616.95 |
| Skipper | 433.50 |
| GMM Pfaudler | 931.05 |
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