Jasch Industries rises on setting up wholly owned subsidiary in US

09 Dec 2011

Jasch Industries is currently trading at Rs 14.00, up by 0.08 points or 0.57% from its previous closing of Rs 13.92 on the BSE.

The scrip opened at Rs 14.50 and has touched a high and low of Rs 14.80 and Rs 14.00 respectively.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 18.70 on 20-Jul-2011 and a 52 week low of Rs 10.05 on 10-Feb-2011.

Last one week high and low of the scrip stood at Rs 14.80 and Rs 13.25 respectively. The current market cap of the company is Rs 15.77 crore.

The promoters holding in the company stood at 54.71% while Institutions and Non-Institutions held 0.01% and 45.28% respectively.  

Jasch Industries has set up a wholly owned subsidiary under the name -- Jasch North America Co. -- in the United States (US) for acquisition of 100% shares of an existing US Company -- INDEV Gauging Systems Inc. -- in accordance with Automatic Route permitted by Reserve Bank of India (RBI).

The entire consideration amount has been made available by the company to the aforesaid subsidiary on December 07, 2011 and the whole process of actual acquisition is expected to be completed before December 31, 2011.  

Jasch Industries (India) is in automation industry, market leader for metal or flat sheet industrial measurement systems, as a part of Jasch group. The company’s world class products for online inspection are produced after exhaustive research at Sonipat facility.

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