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Nippo Batteries strengthens on plan to expand product profile

05 Mar 2013 Evaluate

Nippo Batteries is currently trading at Rs. 245.15, up by 3.85 points or 1.60% from its previous closing of Rs. 241.30 on the BSE.

The scrip opened at Rs. 250.00 and has touched a high and low of Rs. 255.40 and Rs. 240.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 515.00 on 11-Jun-2012 and a 52 week low of Rs. 235.00 on 04-Mar-2013.

Last one week high and low of the scrip stood at Rs. 255.40 and Rs. 235.00 respectively. The current market cap of the company is Rs. 94.13 crore.

The promoters holding in the company stood at 74.85% while Non-Institutions held 25.15% stake in the company. 

Nippo Batteries, manufacturer of dry cell batteries, is planning to expand its product profile, in order to include products to meet the needs of defence, civil and aerospace sectors. It is likely to alter its memorandum of association (MoA) to include design, manufacture and sale of lighting products including incandescent lamp, Compact Fluorescent Lamp, LED bulbs /lamps and solar products.

Based in Chennai (Tamil Nadu), Nippo manufactures and sells dry cells. It also trades in torches, emergency power back-up range of products and compact fluorescent lamp (CFL) bulbs. Nippo also has windmills with a total capacity of 4.5 megawatt (MW).

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