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30-Nov2017

India Motor Parts rises on acquiring 90% stake in CAPL Motor Parts

India Motor Parts & Accessories is currently trading at Rs. 1000.05, up by 0.90 points or 0.09% from its previous closing of Rs. 999.15 on the BSE.

The scrip opened at Rs. 1080.00 and has touched a high and low of Rs. 1080.00 and Rs. 1000.05 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1100.00 on 22-Nov-2017 and a 52 week low of Rs. 729.00 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1080.00 and Rs. 954.00 respectively. The current market cap of the company is Rs. 832.00 crore.

The promoters holding in the company stood at 30.72%, while Institutions and Non-Institutions held 8.36% and 60.92% respectively.

India Motor Parts & Accessories has invested Rs 4.50 crore on November 29, 2017, towards 90% stake in the equity capital of CAPL Motor Parts. Consequent to this investment, CAPL Motor Parts has become a subsidiary of the company.

Recently, the company had received an approval to enter into a Memorandum of Understanding (MoU) for investing Rs 3.80 crore towards 76% stake in the equity of a private limited company, which will take over the business of Central Automobiles, a Partnership Firm in Ahmedabad, Gujarat.

India Motor Parts and Accessories is engaged in the distribution of automobile spare parts and accessories. It is one of the few all India distributors of motor parts and deals in engine group components, brake systems, fasteners, radiators, suspensions, axles, auto electricals, wheels, steering linkages, instrument clusters etc.



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