Shoppers Stop is currently trading at Rs. 803.50, up by 6.00 points or 0.75% from its previous closing of Rs. 797.50 on the BSE.
The scrip opened at Rs. 802.95 and has touched a high and low of Rs. 825.00 and Rs. 802.00 respectively. So far 3462 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 829.70 on 10-Jul-2023 and a 52 week low of Rs. 574.30 on 04-Aug-2022.
Last one week high and low of the scrip stood at Rs. 825.00 and Rs. 756.95 respectively. The current market cap of the company is Rs. 8896.70 crore.
The promoters holding in the company stood at 65.46%, while Institutions and Non-Institutions held 28.20% and 6.34% respectively.
Shoppers Stop has received an approval for an investment in Pahadi Goodness (Pahadi Local) of upto Rs 4 crore, by way of subscription to 40,000 Optionally Convertible Debentures at face value of Rs 1000 each and shall be entering into a subscription agreement with Pahadi Local for the same. The company shall further have an option to acquire an additional 17.67% of the Equity Capital of Pahadi Local in June, 2025, at a post money valuation of Rs 20 crore.
Through this investment, the company proposes to make a strategic investment in a start-up in the wellness and skin care segment, which is its stated long-term strategy. The strategic investment would enable distribution of Pahadi Local products by the company, which are sourced from Himalayas and are natural. The same goes well with the ESG goals of the company to promote MSME and sustainable products. The object is in-line with the beauty products business of the company. The Board of Directors of the Company at its Meeting held on July 31, 2023 have inter-alia approved the same.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.
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| Trent | 6829.00 |
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