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Clutch Auto rises on plan to sell property located at Faridabad

30 Aug 2012 Evaluate

Clutch Auto is currently trading at Rs. 22.40, up by 0.55 points or 2.52% from its previous closing of Rs. 21.85 on the BSE.

The scrip opened at Rs. 22.90 and has touched a high and low of Rs. 22.90 and Rs. 22.40 respectively.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 39.95 on 09-Sep-2011 and a 52 week low of Rs. 21.60 on 29-Aug-2012.

Last one week high and low of the scrip stood at Rs. 24.55 and Rs. 21.60 respectively. The current market cap of the company is Rs. 42.00 crore.

The promoters holding in the company stood at 36.33% while Institutions and Non-Institutions held 0.15% and 63.52% respectively.

Clutch Auto's term lenders and bankers have permitted the company to sell the property located on National Highway at Plot No. 1 A, Sector 27-D, Faridabad, proceeds to meet the liabilities of lenders so that the company can reduce its debt burden.

Clutch Auto is India’s largest clutch manufacturer and exporter. It is also the largest supplier of clutches to the commercial vehicle and tractor segment in India. It also caters to the passenger vehicle and replacement demand.

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