Hind Rectifiers surges on getting nod to incorporate two subsidiaries

Hind Rectifiers is currently trading at Rs. 171.20, up by 3.30 points or 1.97% from its previous closing of Rs. 167.90 on the BSE.

The scrip opened at Rs. 162.80 and has touched a high and low of Rs. 171.25 and Rs. 153.90 respectively. So far 14696 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 180.20 on 06-Jan-2021 and a 52 week low of Rs. 108.50 on 31-Jul-2020.

Last one week high and low of the scrip stood at Rs. 172.95 and Rs. 145.65 respectively. The current market cap of the company is Rs. 281.42 crore.

The promoters holding in the company stood at 42.25%, while Institutions and Non-Institutions held 0.02% and 57.73% respectively.

Hind Rectifiers’ board has approved the incorporation of two subsidiaries of the company. The incorporation of the first wholly owned subsidiary with an objective to leverage the growth opportunities in the service activities and will help the company in becoming more customer-focused. The incorporation of the second subsidiary with an objective to leverage the growth opportunities in the E-commerce place for B to B as well for B to C business. The Board of Directors at their meeting held on June 10, 2021, have approved the same.

Hind Rectifiers is engaged in developing, designing, manufacturing and marketing Power Semiconductors, Power Electronic Equipments and Railway Transportation Equipments.

Download App to read Latest News Today

Leave a Comment