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Lakshmi Machine Works moves up on incorporating wholly owned subsidiary company in Dubai

16 Feb 2022 Evaluate

Lakshmi Machine Works is currently trading at Rs. 10907.10, up by 71.85 points or 0.66% from its previous closing of Rs. 10835.25 on the BSE.

The scrip opened at Rs. 11499.80 and has touched a high and low of Rs. 11499.80 and Rs. 10850.00 respectively. So far 159 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 11750.00 on 09-Feb-2022 and a 52 week low of Rs. 5894.00 on 23-Apr-2021.

Last one week high and low of the scrip stood at Rs. 11700.05 and Rs. 10422.00 respectively. The current market cap of the company is Rs. 11575.30 crore.

The promoters holding in the company stood at 31.13%, while Institutions and Non-Institutions held 16.34% and 52.53% respectively.

Lakshmi Machine Works has incorporated a wholly owned subsidiary company namely ‘LMW Middle East FZE’ on February 04, 2022, the incorporation documents for which were received on February 15, 2022. LMW Middle East FZE is located at Jebel Ali Free Zone, Dubai, United Arab Emirates.

Incorporation of a wholly owned subsidiary in UAE is to enable selective focus on the Middle East market and other export markets of Lakshmi Machine Works. Cost of acquisition is United Arab Emirates Dirham 2,470,500 has been paid for subscription of the 24,705 shares of United Arab Emirates Dirham 100 each of LMW Middle East FZE.

Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry. The company caters to both domestic and international markets.

LMW Share Price

14469.40 334.15 (2.36%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
LMW 14469.40
Stovec Inds 1985.50
Harish Textile Engin 68.50
Veejay Lakshmi Engg 42.50
Meera Industries 63.01
View more..

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