Elpro International touches roof on receiving approval to offload 1.25% stake in PNB MetLife

Elpro International Ltd. | Construction - Real Estate | Construction & Infrastructure | BSE: 504000 | NSE: ELPROINTL

20 Mar 2018 Evaluate

Elpro International is locked at upper circuit at Rs. 49.55, up by 8.25 points or 19.98% from its previous closing of Rs. 41.30 on the BSE.

The scrip opened at Rs. 45.00 and has touched a high and low of Rs. 49.55 and Rs. 45.00 respectively. So far 1,10,261 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 64.00 on 11-Jan-2018 and a 52 week low of Rs. 21.98 on 28-Mar-2017.

Last one week high and low of the scrip stood at Rs. 49.55 and Rs. 40.20 respectively. The current market cap of the company is Rs. 749.21 crore.

The promoters holding in the company stood at 65.65%, while Institutions and Non-Institutions held 24.25% and 10.09% respectively.

Elpro International has received an approval to offload 1.25% of its equity stake in PNB MetLife Insurance Company (PNB MetLife), which may fetch it about Rs 125 crore. The board of director at its meeting held on March 19, 2018 has approved for the same. The company currently holds 12.75% equity in PNB MetLife, which is engaged in the business of life insurance.

This step has been taken for effective treasury management and cash flow requirement for the business of the company. The company is also in discussion with one potential buyer for sale of part of its investment.

Elpro International is engaged in the manufacturing of electrical industrial machinery, apparatus and parts, and construction of residential and non-residential buildings, including additions and alterations.

Elpro International Share Price

171.75 -0.25 (-0.15%)

29-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
Lodha Developers	940.00
Dilip Buildcon	464.40
Oberoi Realty	1754.50
DLF	614.65
Ahluwalia Contract(I	866.15
View more..

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