Maharashtra Seamless gains on getting nod to acquire 41.82% stake in United Seamless Tubulaar

03 Feb 2022 Evaluate

Maharashtra Seamless is currently trading at Rs. 563.50, up by 0.85 points or 0.15% from its previous closing of Rs. 562.65 on the BSE.

The scrip opened at Rs. 570.00 and has touched a high and low of Rs. 578.10 and Rs. 549.90 respectively. So far 16091 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 593.55 on 12-Jan-2022 and a 52 week low of Rs. 265.75 on 15-Apr-2021.

Last one week high and low of the scrip stood at Rs. 578.10 and Rs. 524.00 respectively. The current market cap of the company is Rs. 3711.78 crore.

The promoters holding in the company stood at 64.90%, while Institutions and Non-Institutions held 4.14% and 30.96% respectively.

Maharashtra Seamless has received approval from board of directors for acquisition of 56,00,000 Equity shares of Rs 10 each (41.82%) of United Seamless Tubulaar. The acquisition will consolidate its business of seamless pipes and tubes. Presently company holds 77,90,791 equity shares of Rs 10 each comprising 58.18%. After the proposed acquisition, the company will hold entire 100% equity capital of United Seamless Tubulaar. The Board of Directors of the company at its meeting held on February 2, 2022 has approved the same.

Maharashtra Seamless provides a whole range of high-class, customizable and innovative seamless pipes and tubes using state-of-art technology.

Maharashtra Seamless Share Price

711.75 2.70 (0.38%)
24-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 140.35
JSW Steel 922.25
SAIL 119.00
Jindal Stainless 730.55
Jindal Saw 302.95
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.