Linc Pens zooms on Mitsubishi Pencil’s decision to increase stake in the company

Linc Ltd. | Printing & Stationery | Media | BSE: 531241 | NSE: LINC

30 Nov 2012 Evaluate

Linc Pens is currently trading at Rs. 56.00, up by 5.30 points or 10.45% from its previous closing of Rs. 50.70 on the BSE.

The scrip opened at Rs. 51.75 and has touched a high and low of Rs. 57.20 and Rs. 51.75 respectively. So far 37627 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 66.80 on 29-Mar-2012 and a 52 week low of Rs. 39.00 on 23-Dec-2011.

Last one week high and low of the scrip stood at Rs. 57.20 and Rs. 45.00 respectively. The current market cap of the company is Rs. 82.80 crore.

The promoters holding in the company stood at 60.22% while Non-Institutions held 39.78%.

Mitsubishi, Japan's largest writing instrument maker - Mitsubishi Pencil, has decided to increase its stake in its Indian partner, Linc Pens from a little over 13% that it bought early this year. Mitsubishi has taken this decision as it identified India as its main growth market, while Europe and the US are slowing.

Linc is one of the top three writing instrument maker in India. Mitsubishi, which sells its pens under the Uni brand, plans to start local production in the country in next 6-12 months. It will initially use the Linc Pen facilities for production but may later set up its own factory.