Alstom India surges on getting nod for demerger of boiler business

22 Nov 2012 Evaluate

Alstom India is currently trading at Rs. 413.40, up by 3.35 points or 0.82 % from its previous closing of Rs. 410.05 on the BSE.

The scrip opened at Rs. 413.25 and has touched a high and low of Rs. 417.45 and Rs. 411.80 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 441.70 on 17-Feb-2012 and a 52 week low of Rs. 280.00 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 419.00 and Rs. 401.20 respectively. The current market cap of the company is Rs. 2779.18 crore.

The promoters holding in the company stood at 68.56% while Institutions and Non-Institutions held 16.26% and 15.19% respectively.

Alstom India has received an approval for the proposed demerger of its boiler business into its wholly owned subsidiary i.e. Alstom Boilers India, through a scheme of arrangement for demerger under Sections 391 to 394 of the Companies Act, 1956 (‘Scheme of Demerger’).

The Scheme of Demerger is being undertaken pursuant to the proposed global joint venture between Alstom Holdings (a holding Company in the ALSTOM group) and Shanghai Electric Group on a 50:50 bases, in the field of boilers and boiler related equipments. The board at its meeting held on October 25, 2011 has approved for the above.

Alstom Projects is India’s leading environmental control systems provider with 3 GWs worth of orders, accounting for about 50% market share. The company is well positioned to serve India’s growing hydro needs. Projects currently under execution include the 2000 MW Subansiri Lower hydroelectric power plant in the states of Assam and Arunachal Pradesh, India’s largest hydro project.

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