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Alankit surges on planning to acquire stake in Alankit Insurance Brokers

25 Jul 2019

Alankit is currently trading at Rs. 25.05, up by 0.60 points or 2.45% from its previous closing of Rs. 24.45 on the BSE.

The scrip opened at Rs. 24.75 and has touched a high and low of Rs. 25.75 and Rs. 24.65 respectively. So far 58698 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 40.50 on 03-Jun-2019 and a 52 week low of Rs. 16.95 on 25-Sep-2018.

Last one week high and low of the scrip stood at Rs. 27.95 and Rs. 23.95 respectively. The current market cap of the company is Rs. 359.54 crore.

The promoters holding in the company stood at 69.67%, while Institutions and Non-Institutions held 0.29% and 30.04% respectively.

Alankit is planning to acquire 10 lakh equity shares at face value of Rs 10 each of Alankit Insurance Brokers, representing Rs 1 crore and constituting 100% of paid-up share capital of Alankit Insurance Brokers subject to the approval of IRDA.

Consequently, Alankit Insurance Brokers will become a wholly owned subsidiary of Alankit on receipt of approval of IRDA.

Alankit, a market leader and eminent name in the industry today, is a more than two-decade-old conglomerate, having diversified operations in the vital segments like e-Governance, Financial Services, Healthcare and Insurance Broking.

Related Alankit Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323