Patels Airtemp gains on getting nod to constitute subsidiary in USA

23 May 2019 Evaluate

Patels Airtemp (India) is currently trading at Rs. 99.00, up by 3.65 points or 3.83% from its previous closing of Rs. 95.35 on the BSE.

The scrip opened at Rs. 99.55 and has touched a high and low of Rs. 101.95 and Rs. 99.00 respectively.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 175.00 on 28-May-2018 and a 52 week low of Rs. 90.10 on 01-Mar-2019.

Last one week high and low of the scrip stood at Rs. 102.00 and Rs. 94.05 respectively. The current market cap of the company is Rs. 50.20 crore.

The promoters holding in the company stood at 47.25%, while Non-Institutions held 52.75% stake in the company.

Patels Airtemp (India) has received an approval to constitute 100% Wholly Owned Subsidiary (WOS) of the Company under the name of Patels Airtemp (USA) Inc., a Corporation formed in the State of Delaware, USA having its Registered Office situated at 2140 South Dupont Highway, in the city of Camden, DE 19934, County of KENT. The Board of Directors of the company at its meeting held on May 22, 2019, approved the same.

Patels Airtemp (India) is an India-based company. The Company is engaged in the manufacture and sale of Heat Exchangers, such as Shell & Tube type, Finned tube type and Air cooled Heat Exchangers, Pressure Vessels, Air-conditioning and Refrigeration Equipments and Turnkey heating, ventilation, and air conditioning (HVAC) Projects in India & marketing of equipments even outside India.

Patels Airtemp (I) Share Price

473.65 4.70 (1.00%)
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