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23-May2018

Munjal Auto gains on acquiring 55% stake in Indutch

Munjal Auto Industries is currently trading at Rs. 68.00, up by 0.35 points or 0.52% from its previous closing of Rs. 67.65 on the BSE.

The scrip opened at Rs. 68.50 and has touched a high and low of Rs. 68.50 and Rs. 68.00 respectively. So far 152 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 97.60 on 08-Jan-2018 and a 52 week low of Rs. 52.70 on 25-May-2017.

Last one week high and low of the scrip stood at Rs. 71.90 and Rs. 66.25 respectively. The current market cap of the company is Rs. 680.00 crore.

The promoters holding in the company stood at 74.81%, while Institutions and Non-Institutions held 0.15% and 25.04% respectively.

Munjal Auto Industries has acquired 55% paid up share capital in Indutch Composites Technology (Indutch), a Vadodara based Company. The company has acquired 16,48,726 equity shares of Rs 10 each. The valuation has not been disclosed herein due to reasons of confidentiality agreement.

Munjal Auto Industries is leading auto component manufacturing company in India producing Exhaust systems complete for two wheelers and four wheelers, Spoke rims for two wheelers, Steel Wheel Rims for Two Wheelers and Four Wheelers, Fuel Tanks for Four wheelers, Seat Frames for four wheelers and other automotive assemblies.



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