Wednesday , 22 March 2023
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Kranti Industries rises on inking MoU to acquire stake in Preciso Metall

Kranti Industries is currently trading at Rs. 79.95, up by 1.01 points or 1.28% from its previous closing of Rs. 78.94 on the BSE.

The scrip opened at Rs. 82.75 and has touched a high and low of Rs. 82.75 and Rs. 79.01 respectively. So far 3577 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 123.70 on 06-Sep-2022 and a 52 week low of Rs. 33.05 on 30-Mar-2022.

Last one week high and low of the scrip stood at Rs. 82.75 and Rs. 67.15 respectively. The current market cap of the company is Rs. 84.45 crore.

The promoters holding in the company stood at 74.33%, while Non-Institutions held 25.67% stake in the company.

Kranti Industries (KIL) has entered into Memorandum of Understanding (MoU) on March 01, 2023 with the Existing shareholders of the Preciso Metall (PMPL) to invest by way of acquisition of equity shares of PMPL which is engaged in the business of shell moulding, casting & other allied activities.

The company has agreed to acquire 55% of the total equity shares of the PMPL in a phased manner. It will acquire around 19% of equity shares from the existing shareholders of PMPL in March 2023. In April 2023, will acquire balance 36% of Equity Shares.

Kranti Industries is engaged in the business of manufacturing and supplying of precision machined components.