Hercules Hoists surges on selling land in Mumbai to Arkade Developers

Hercules Hoists is currently trading at Rs. 209.15, up by 5.75 points or 2.83% from its previous closing of Rs. 203.40 on the BSE.

The scrip opened at Rs. 203.30 and has touched a high and low of Rs. 211.60 and Rs. 203.30 respectively. So far 2652 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 246.80 on 21-Dec-2022 and a 52 week low of Rs. 113.00 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 211.60 and Rs. 190.25 respectively. The current market cap of the company is Rs. 663.36 crore.

The promoters holding in the company stood at 69.61%, while Non-Institutions held 30.39% stake in the company.

Hercules Hoists has completed the transfer of land of around 8327 square meters situated at 110, Minerva Industrial Estate, Mulund West Mumbai, for aggregate consideration of Rs 90 crore to Arkade Developers by executing the necessary Deeds of Conveyance in favour of the Purchaser. The entire consideration is received by the Company.

Hercules Hoists is a manufacturer of material-handling equipment. The company sells their products under the brand name Indef.

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