Havells India rose 0.70% to Rs 360.90 at 10:12 IST on BSE after the company said that it will increase its stake in Bangalore-based Promptec Renewable Energy Solutions to 70% for an undisclosed sum.
The announcement was made after market hours yesterday, 13 June 2016.Meanwhile, the BSE Sensex was down 4.99 points, or 0.02%, to 26,391.78.
On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 95.18 lakh shares in the past one quarter. The stock hit a high of Rs 365.05 and a low of Rs 360 so far during the day. The stock hit a record high of Rs 378 on 26 May 2016. The stock hit a 52-week low of Rs 235.60 on 9 November 2015. The stock had underperformed the market over the past one month till 13 June 2016, falling 0.40% compared with 3.56% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.22% as against Sensex's 7.52% rise.
The large-cap company has an equity capital of Rs 62.46 crore. Face value per share is Re 1.
Havells India currently holds 51% stake in the Bangalore-based entity. Promptec Renewable Energy is engaged in marketing and manufacturing of LED products including street lighting, office lighting and solar lighting.
Also Read
Net profit of Havells India rose 200.77% to Rs 366.49 crore on 9.23% rise in net sales to Rs 1463.36 crore in Q4 March 2016 over Q4 March 2015.
Havells India is a fast moving electrical goods (FMEG) manufacturer, producing a wide range of industrial and consumer electrical products.
Powered by Capital Market - Live News
