PSP Projects is currently trading at Rs. 414.90, up by 0.05 points or 0.01% from its previous closing of Rs. 414.85 on the BSE.
The scrip opened at Rs. 417.00 and has touched a high and low of Rs. 417.70 and Rs. 414.90 respectively. So far 7872 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 557.90 on 14-Jan-2020 and a 52 week low of Rs. 233.80 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 434.00 and Rs. 400.00 respectively. The current market cap of the company is Rs. 1500.84 crore.
The promoters holding in the company stood at 74.19%, while Institutions and Non-Institutions held 6.68% and 19.13% respectively.
PSP Projects has entered into a Share Purchase agreement to acquire 13,00,000 (26%) equity shares of PSP Projects & Proactive Constructions (PPCL) at a negligible amount of consideration of Rs 1,30,000, thereby making it a wholly-owned subsidiary (not material) of the company. Prior to this acquisition of shares, PSP was holding 74% of the equity shares of PPCL.
The objective of purchase is to further consolidate shareholding of the company in PPCL. The additional purchase would result an increase in company’s shareholding in PPCL to 100%.
PSP Projects, the Ahmedabad-based firm is a multi-disciplinary construction firm and provides its services ranging from planning and design to construction and post-construction activities.
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