RMC Switchgears is currently trading at Rs. 29.50, up by 4.00 points or 15.69% from its previous closing of Rs. 25.50 on the BSE.
The scrip opened at Rs. 27.95 and has touched a high and low of Rs. 29.50 and Rs. 26.85 respectively. So far 38000 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.50 on 20-Oct-2021 and a 52 week low of Rs. 11.25 on 10-Mar-2021.
Last one week high and low of the scrip stood at Rs. 29.50 and Rs. 21.80 respectively. The current market cap of the company is Rs. 17.97 crore.
The promoters holding in the company stood at 56.27% and Non-Institutions held 43.73%.
RMC Switchgears has developed an IoT device which will help in monitoring the location, problems, abnormalities and power consumption (including energy auditing with features, smarter than smart meters) for the State Power utilities and soon company will be rolling it out for Domestic Applications as well which will also provide Home Automation Systems.
This system will be one of the biggest problem solvers for the utilities as it will help them to bring down the AT&C losses by reducing leakages and power theft, increasing the life of the equipments and eliminating electrocution issues of the nation, which consumes billions of the hard eamed money of tax payers. The company has also developed a Mobile and Web Application to manage and control the above, which will be customised as per the utility and will ensure the encrypted form of the database.
This system will improve Power Reliability and will also ensure that the consumer of the utility will get break down rnaintenance within 24 hours itself, as it will directly communicate with the line man for any unwanted reported incident.
RMC Switchgears is primarily engaged in the business of designing and manufacturing of, Enclosures of Energy Meters, LT/HT Distribution Boxes and Panels, Junction Boxes, Feeder Pillars and other Power Distribution and Circuit Protection Switchgears made from Mild Steel, Stainless Steel in Fabrication and Deep Drawn Process along with Sheet Moulding Compound and Bulk Moulding Compound (DMC) materials.
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