Symphony is currently trading at Rs. 312.10, up by 1.10 points or 0.35% from its previous closing of Rs. 311.00 on the BSE.
The scrip opened at Rs. 311.00 and has touched a high and low of Rs. 312.10 and Rs. 310.85 respectively. So far 285 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 473.45 on 08-Oct-2012 and a 52 week low of Rs. 200.00 on 04-Jul-2012.
Last one week high and low of the scrip stood at Rs. 329.90 and Rs. 300.00 respectively. The current market cap of the company is Rs. 1091.68 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 3.86% and 21.14% respectively.
Symphony has received an approval to close down/wind up its wholly owned subsidiary company i.e. ‘Symphony Air Coolers Inc., USA’. The board of directors at its meeting held on July 2, 2013 has approved for the same. The company is evaluating the said proposal and seeking advice from its lawyer at USA on the matter.
The company has taken the above step as ‘Symphony Air Coolers Inc., USA’ currently has no operations in USA. In order to mitigate the cost on operational as well as statutory compliances, the company has deemed it fit to close down / wind up the said subsidiary.
Earlier in 2004, Symphony Air Coolers Inc. was incorporated by the company as its wholly owned subsidiary to promote the business/exports of the company in USA. The said markets are now taken care by Symphony USA Inc., USA, subsidiary of Impco S: R. L. de. C.V., Mexico, (the step down subsidiary of the company), Symphony Air Coolers Inc. had got no operations.
Further, the company has purchased the small shareholding (social quota) of 0.10% held by Symphony Air Cooler Inc., USA in the capital of Impco S. de. R. L. de. C.V., Mexico at the consideration of $492.
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| Whirlpool Of India | 1872.95 |
| Bajaj Electricals | 779.45 |
| IFB Industries | 1902.50 |
| Orient Electric | 239.10 |
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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