Sanghvi Brand is currently trading at Rs. 88.75, up by 1.80 points or 2.07% from its previous closing of Rs. 86.95 on the BSE.
The scrip opened at Rs. 86.95 and has touched a high and low of Rs. 88.75 and Rs. 86.95 respectively. So far 4000 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 182.00 on 27-Dec-2017 and a 52 week low of Rs. 74.00 on 22-Nov-2017.
Last one week high and low of the scrip stood at Rs. 109.00 and Rs 86.80 respectively. The current market cap of the company is Rs. 92.44 crore.
The promoters holding in the company stood at 52.80%, while Institutions and Non-Institutions held 1.00 % and 46.20 % respectively.
Sanghvi Brands has signed a letter of intent (LOI) to enter into an agreement for a merger /acquisition/ strategic partnership with US based organization WT Global LLC subject to further discussion. The company shall further discuss the same with the Board of Directors in the Board meeting to be held on May 30, 2018.
This deal represents a significant synergy to the company's growing operations in the United States. In addition to the Salons, the company will also look to develop a product line under the Warren Tricomi brand.
Sanghvi Brands manages and operates Luxury Spa, Beauty, Wellness & Fitness Brands and one of the top largest Spa and Wellness Operator in India with license rights to operate various premium international brands including Spa by Clarins, Spa by L’Occitane, Elle Spas & Salons, Warren Tricomi Salon & Spa, Levo, Rosanno Ferretti, TAOS Salon, Ramona Braganza’s 3-2-1 Fitness programme.
