Elgi Equipments spurts on incorporating WOS company in Australia

18 Jul 2018

Elgi Equipments is currently trading at Rs. 292.65, up by 1.60 points or 0.55% from its previous closing of Rs. 291.05 on the BSE.

The scrip opened at Rs. 292.30 and has touched a high and low of Rs. 294.30 and Rs. 290.65 respectively. So far 142 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 350.00 on 12-Feb-2018 and a 52 week low of Rs. 210.00 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 295.80 and Rs. 272.50 respectively. The current market cap of the company is Rs. 4631.63 crore.

The promoters holding in the company stood at 31.90%, while Institutions and Non-Institutions held 27.71% and 40.39% respectively.

Elgi Equipments has incorporated a new company in Australia by name ‘Industrial Air Compressors’ as a wholly owned subsidiary (WOS) company. The percentage of shareholding is 100% with initial subscription of 120 Shares of Australian Dollar 1 each. Industrial Air Compressors is yet to begin its business and commercial operations.

Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719