Sintex Industries would be excluded from the Nifty Midcap 50 index with effect from July 26, 2013
Sintex Industries is currently trading at Rs. 39.10, down by 2.30 points or 5.56% from its previous closing of Rs. 41.40 on the BSE.
The scrip opened at Rs. 40.50 and has touched a high and low of Rs. 41.25 and Rs. 38.85 respectively. So far 391247 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 75.60 on 12-Oct-2012 and a 52 week low of Rs. 38.85 on 24-Jun-2013.
Last one week high and low of the scrip stood at Rs. 47.90 and Rs. 38.85 respectively. The current market cap of the company is Rs. 1233.65 crore.
The promoters holding in the company stood at 36.16% while Institutions and Non-Institutions held 34.99% and 28.85% respectively.
Havells India, electrical equipment maker, will replace Sintex Industries, in the National Stock Exchange’s Nifty Midcap 50 index from next month. According to the changes announced by India Index Services & Products (IISL), an NSE-CRISIL joint venture, Sintex Industries would be excluded from the Nifty Midcap 50 index with effect from July 26, 2013. Earlier, the exchange reported that it would exclude Sintex Industries from derivative and Securities Lending & Borrowing Scheme (SLBS) segments with effect from August 30, 2013.
Havells India is engaged in selling products in Kerala for several years and the business has shown an upward trend in terms of turnover in a short span of time. It has 10 manufacturing facilities in India in various states, including Himachal Pradesh, Uttar Pradesh and Rajasthan.
