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Binani Inds gains on plans of acquiring entire share capital of Royalvision Projects

10 Jan 2014 Evaluate

Binani Industries is currently trading at Rs. 84.00, up by 0.10 points or 0.12 % from its previous closing of Rs. 83.90 on the BSE.

The scrip opened at Rs. 85.00 and has touched a high and low of Rs. 85.00 and Rs. 82.80 respectively. So far 2610 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 139.10 on 10-Jan-2013 and a 52 week low of Rs. 52.50 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 87.70 and Rs. 83.65 respectively. The current market cap of the company is Rs. 248.61 crore.

The promoters holding in the company stood at 51.28 % while Institutions and Non-Institutions held 3.97 % and 44.76 % respectively.

Binani Industries has received an approval to acquire the entire share capital of Royalvision Projects for a consideration of Rs 88,000 approximately. Consequently, Royalvision Projects will become a wholly owned subsidiary of the company. The board of directors at its meeting held on January 07, 2014 has approved for the same.

Binani Industries is the holding company of the $1.6-billion Braj Binani Group. The business portfolio of Binani Industries includes sectors like cement, zinc, glass-fiber and downstream composite products.

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