Mukand is currently trading at its upper limit of Rs. 27.55, up by 1.30 points or 4.95% from its previous closing of Rs. 26.25 on the BSE.
The scrip opened at Rs. 27.55 and has touched a high and low of Rs. 27.55 and Rs. 27.55 respectively. So far 1300 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 39.15 on 17-Sep-2019 and a 52 week low of Rs. 12.00 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 30.40 and Rs. 26.25 respectively. The current market cap of the company is Rs. 389.57 crore.
The promoters holding in the company stood at 74.35% while Institutions and Non-Institutions held 3.79% and 21.86% respectively.
Mukand’s board has approved the proposal for divestment of upto 51% equity stake/investment (Sale Shares) held in Mukand Sumi Special Steel (MSSSL) to promoter group entity(ies) (Proposed Buyer), in one or more tranches, over a period of 12 months, subject to the approval of shareholders and other approvals as may be required, at a consideration of not less than Rs 571.91 per share, aggregating to total consideration of not less than Rs 1,212.95 crore (Proposed Transaction). Post receipt of requisite approvals, the company shall enter into a definitive agreement to sell Sale Shares to the Proposed Buyer. The Board of Directors of the company at its meeting held on August 31, 2020, has considered and approved the same.
Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.