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18-May2018

Precision Camshafts gains with arm acquiring 51% stake in EMOSS

Precision Camshafts is currently trading at Rs. 99.10, up by 0.35 points or 0.35% from its previous closing of Rs. 98.75 on the BSE.

The scrip opened at Rs. 98.50 and has touched a high and low of Rs. 99.10 and Rs. 98.05 respectively. So far 1775 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.10 on 09-Jan-2018 and a 52 week low of Rs. 95.25 on 26-Mar-2018.

Last one week high and low of the scrip stood at Rs. 102.45 and Rs. 97.50 respectively. The current market cap of the company is Rs. 940.23 crore.

The promoters holding in the company stood at 63.83%, while Institutions and Non-Institutions held 14.17% and 22.00% respectively.

Precision Camshafts' wholly owned subsidiary - PCL (International) Holding B.V., Netherlands has acquired 51% equity shareholding in 'EMOSS Mobile Systems B.V., Netherlands' (EMOSS). The cost of acquisition is 7.358 euro (approximately Rs 58 crore). The acquisition will enable the company to foray into electric mobility a one stop solution for electric powertrains by providing tailor made engineering services on electric vehicles and equipments. Acquisition to pave access to electrical mobility markets such as Europe, North America and Australasia.

Precision Camshafts is one of the world's leading manufacturers and supplier of camshafts, a critical engine component, in the passenger vehicle segment based on its estimated global market share by volume.



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