Monday , 29 November 2021
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Somany Ceramics gains on investing Rs 9.50 crore in Somany Piastrelle

Somany Ceramics gains on investing Rs 9.50 crore in Somany Piastrelle

Somany Ceramics is currently trading at Rs. 860.40, up by 9.45 points or 1.11% from its previous closing of Rs. 854.40 on the BSE.

The scrip opened at Rs. 943.95 and has touched a high and low of Rs. 943.95 and Rs. 850.00 respectively. So far 737 shares were traded on the counter.

The BSE group ‘A ‘ stock of face value Rs. 2 has touched a 52 week high of Rs. 952.45 on 17-Nov-2021 and a 52 week low of Rs. 250.00 on 19-Nov-2020.

Last one week high and low of the scrip stood at Rs. 952.45 and Rs. 820.00 respectively. The current market cap of the company is Rs. 3620.90 crore.

The promoters holding in the company stood at 54.77%, while Institutions and Non-Institutions held 22.60% and 22.63% respectively.

Somany Ceramics has now invested Rs 9.50 crore in Somany Piastrelle towards the acquisition of equity shares by way of right issue, The Board of Directors has approved the investment upto an amount not exceeding Rs 115 crore in one or more tranches, in Somany Piastrelle, by way of combination of subscription of equity shares and inter corporate loan, as and when required.

Somany Ceramics is in the business of manufacturing and trading of tiles, Sanitaryware and Bath Fittings.