CMI rises on getting nod to amalgamate WOS with itself

23 May 2018

CMI is currently trading at Rs. 294.00, up by 3.35 points or 1.15% from its previous closing of Rs. 290.65 on the BSE.

The scrip opened at Rs. 290.60 and has touched a high and low of Rs. 296.90 and Rs. 281.25 respectively. So far 2764 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 371.60 on 27-Apr-2018 and a 52 week low of Rs. 183.75 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 312.80 and Rs. 281.25 respectively. The current market cap of the company is Rs. 443.91 crore.

The promoters holding in the company stood at 43.55%, while Institutions and Non-Institutions held 15.64% and 40.81% respectively.

CMI has received an approval for Scheme of Amalgamation of CMI Energy India with the company. The Board of Directors of the company at their meeting held on May 21, 2018, approved the same.

The CMI Energy India is a wholly owned subsidiary of CMI and hence no new shares shall be issued on Amalgamation. Further, since the present Scheme solely provides for amalgamation of wholly owned subsidiary with its parent company, no formal approval, NOC or vetting is required from the Stock Exchange or SEBI for the Scheme, in terms of the provisions of the SEBI Regulations.

CMI is a supplier of cable accessories, cables, conductor cables, electric cable accessories, equipment, and machinery.

CMI Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323