Sintex Industries surges on plan to disinvest its entire stake in Zep Infratech

31 Jan 2014

Sintex Industries is currently trading at Rs. 34.65, up by 1.25 points or 3.74% from its previous closing of Rs. 33.40 on the BSE.

The scrip opened at Rs. 33.40 and has touched a high and low of Rs. 34.80 and Rs. 33.40 respectively. So far 742797 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.90 on 01-Feb-2013 and a 52 week low of Rs. 16.90 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 37.05 and Rs. 31.50 respectively. The current market cap of the company is Rs. 1067.71 crore.

The promoters holding in the company stood at 37.04% while Institutions and Non-Institutions held 16.64% and 46.31% respectively.

Sintex Industries is evaluating possibilities to disinvest its entire equity stake in Zep Infratech, the Wholly Owned Subsidiary (WOS) of the company and has constituted a Committee of Directors to evaluate and finalize the offers received / to be received, in the best interest of the company. The board of director at its meeting held on January 30, 2014 has approved for the same.

Sintex Industries is the world largest producer of plastic water tank. It manufactures a wide range of plastic products including prefabricated structures, industrial custom molding products, monolithic constructions and water storage tanks.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323