Omaxe jumps as its arm acquires entire stake in Salvatore Infra Buildtech

20 Mar 2023 Evaluate

Omaxe is currently trading at Rs. 55.50, up by 0.68 points or 1.24% from its previous closing of Rs. 54.82 on the BSE.

The scrip opened at Rs. 61.00 and has touched a high and low of Rs. 61.00 and Rs. 51.55 respectively. So far 18010 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 114.75 on 22-Jul-2022 and a 52 week low of Rs. 51.55 on 20-Mar-2023.

Last one week high and low of the scrip stood at Rs. 61.00 and Rs. 51.55 respectively. The current market cap of the company is Rs. 1002.29 crore.

The promoters holding in the company stood at 74.14%, while Institutions and Non-Institutions held 11.84% and 14.02% respectively.

Omaxe’s subsidiary -- Omaxe World Street has acquired 100% stake in Salvatore Infra Buildtech. With this acquisition, M/s Salvatore Infra Buildtech has become a subsidiary of Omaxe World Street with effective from March 18, 2023. Since, the objects of target company are in same line of business of Omaxe and Omaxe World Street, the target company will contribute towards business operations & growth of the Company. The aggregated cost of acquisition is Rs 2 crore i.e. 20,00,000 equity shares of face value Rs 10 each has been acquired at par value.

Omaxe is an India-based company engaged in real estate and infrastructure businesses. The Company operates in two segments Real estate and Construction.

Omaxe Share Price

129.25 -6.80 (-5.00%)
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