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Elpro International jumps on getting nod to incorporate wholly owned subsidiary

10 Mar 2022 Evaluate

Elpro International is currently trading at Rs. 61.95, up by 1.05 points or 1.72% from its previous closing of Rs. 60.90 on the BSE.

The scrip opened at Rs. 61.95 and has touched a high and low of Rs. 61.95 and Rs. 60.60 respectively. So far 2622 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 81.90 on 06-Oct-2021 and a 52 week low of Rs. 35.25 on 23-Apr-2021.

Last one week high and low of the scrip stood at Rs. 61.95 and Rs. 58.60 respectively. The current market cap of the company is Rs. 1043.14 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 13.82% and 11.19% respectively.

Elpro International has received approval from board of directors for incorporation of wholly owned subsidiary of the company. In view of the growth potential and to explore business opportunities and for efficient management of the same, the proposed wholly owned subsidiary (WOS) is to be incorporated. The Board of Directors at their meeting held on March 09, 2022 has approved the same.

Elpro International is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world.

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