TTK Prestige surges on plan of merging TBI’s kitchen appliances division

30 Sep 2011 Evaluate

TTK Prestige is currently trading at Rs 2591.00, up by 57.70 points or 2.28% from its previous closing of Rs 2533.30 on the BSE.

The scrip opened at Rs 2535.20 and has touched a high and low of Rs 2628.00 and Rs 2510.15 respectively. So far 16710 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 3200.00 on 26-Jul-2011 and a 52 week low of Rs 1101.00 on 15-Oct-2010.

Last one week high and low of the scrip stood at Rs 2688.65 and Rs 2510.05 respectively. The current market cap of the company is Rs 2867.97 crore.

The promoters holding in the company stood at 74.91% while Institutions and Non-Institutions held 12.61% and 12.48% respectively.

TTK Prestige is considering a proposal whereby the kitchen appliances division of an unlisted company - Triveni Bialetti Industries (TBI) is proposed to be demerged into TTK Prestige. The board will meet on October 10, 2011 to consider, discuss and transact the business. Further, the above proposal will be in accordance under Section 391-394 of Companies Act, 1956.

Recently, the company was planning to begin construction of its facility near Vadodara in Gujarat in the second quarter of 2011-12 which was part of the company's Rs 225-crore capacity expansion plan slated to be completed during the first half of 2012.

TTK Prestige, one of the oldest business houses in the country today and the leading manufacturer of Pressure cookers in India and offered the most comprehensive range of kitchenware in the world.

TTK Prestige Share Price

820.00 -8.80 (-1.06%)
23-Dec-2024 09:50 View Price Chart
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