V-Guard Industries moves up on getting nod for acquisition of minority stake in Gegadyne Energy Labs

15 Jan 2021 Evaluate

V-Guard Industries is currently trading at Rs. 220.30, up by 4.55 points or 2.11% from its previous closing of Rs. 215.75 on the BSE.

The scrip opened at Rs. 217.00 and has touched a high and low of Rs. 221.00 and Rs. 214.40 respectively. So far 62074 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 233.00 on 30-Jan-2020 and a 52 week low of Rs. 149.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 223.15 and Rs. 208.25 respectively. The current market cap of the company is Rs. 9442.29 crore.

The promoters holding in the company stood at 62.64%, while Institutions and Non-Institutions held 25.65% and 11.71% respectively.

V-Guard Industries’ Board has approved the acquisition of a minority stake (18.77%) in Gegadyne Energy Labs (GEL) for a cash consideration of Rs. 33.4 crore.

V-Guard envisages start-up collaboration as one of the routes to participate in emerging technologies and building product capabilities for fueling future growth. GEL investment is a stepping-stone in this direction and signifies V-Guard's willingness to move into cutting edge technology space and its growing focus on creating disruptions in established businesses. V-Guard foresees potential in GEL's alternative battery technology for various primary applications like DUPS / Energy storage in addition to secondary applications in other products of its existing portfolio.

V-Guard industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.

 

 

V-Guard Inds. Share Price

331.45 0.80 (0.24%)
28-Mar-2024 16:01 View Price Chart
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