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10-Aug2018

EMCO touches roof on getting nod to sell solar business to its subsidiary company

Emco is currently trading at its upper circuit limit of Rs. 11.80, up by 0.56 points or 4.98% from its previous closing of Rs. 11.24 on the BSE.

The scrip opened at Rs. 11.80 and has touched a high and low of Rs. 11.80 and Rs. 11.80 respectively. So far 33750 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 23.65 on 23-Jan-2018 and a 52 week low of Rs. 5.66 on 23-Jul-2018.

Last one week high and low of the scrip stood at Rs. 11.80 and Rs. 9.80 respectively. The current market cap of the company is Rs. 80.13 crore.

The promoters holding in the company stood at 45.24%, while Institutions and Non-Institutions held 0.67% and 54.09% respectively.

EMCO has received an approval for sale and transfer of entire 5 MWp Solar Business of the company to its wholly owned subsidiary -- EMCO Infrastructure on slump sale basis. The Board of Directors of the company at their meeting held on August 09, 2018, approved the same.

The lump sum equity consideration would be not more than Rs 15 crore. EMCO Infrastructure is primarily incorporated for power generation, transmission and allied business through renewable energy.

EMCO is engaged in manufacturing power equipment's and is the third largest manufacturer of transformers in India. The company has also diversified their business by manufacturing electronic energy meters EMCO provides innovative technologies, solutions, products and services to a wide range of customers in the transmission and distribution sector. 


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