Remsons Industries is currently trading at Rs. 89.00, up by 1.40 points or 1.60% from its previous closing of Rs. 87.60 on the BSE.
The scrip opened at Rs. 88.65 and has touched a high and low of Rs. 90.50 and Rs. 88.55 respectively. So far 203 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 119.00 on 26-Aug-2020 and a 52 week low of Rs. 43.20 on 13-Mar-2020.
Last one week high and low of the scrip stood at Rs. 93.00 and Rs. 86.45 respectively. The current market cap of the company is Rs. 50.85 crore.
The promoters holding in the company stood at 75.00%, while Non-Institutions held 25.00% stake in the company.
Remsons Industries has entered into a binding agreement through international bidding to acquire the business of Magal Cables (MCL) along with the shares of its associates, subsidiaries and JV. The total consideration would be in the range of British pound sterling 3 to 4 million subject to closing adjustments. This acquisition is a step towards forward integration as Remsons is one of the largest suppliers to MCL and this will create value for all the stakeholders.
Remsons Industries is engaged in the manufacture of cables, flexible shafts, gear shift systems, push pull cables and park brake mechanisms. The product range of the company includes Cables- The company manufactures cables for two-wheelers, three-wheelers, four-wheeler, commercial vehicles, construction equipments, mining equipment and farm equipments.
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