/ Sat Industries Plan To Incorporate Wholly Owned Subsidiary Company In UAE ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 27 December 2016

Sat Industries Ltd has informed BSE that the Board of Directors of the Company has considered and decided to incorporate wholly owned subsidiary company in UAE to carry on business of Global Trading and also to consolidate / re-structure the existing business into this new company. Further, the company has decided to invest up to Rs 50 lakh in this company.

The board has also approved to make further investment up to Rs 7 crore in Italica Ventures, a wholly owned subsidiary. Sat Industries Ltd is currently trading at Rs 18, down by Rs 0.25 or 1.37% from its previous closing of Rs 18.25 on the BSE.

The scrip opened at Rs 19.8 and has touched a high and low of Rs 19.8 and Rs 18 respectively. So far 2525 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 133.77 crore. The BSE group 'XD' stock of face value Rs 2 has touched a 52 week high of Rs 21.95 on 13-Dec-2016 and a 52 week low of Rs 7.45 on 28-Jan-2016. Last one week high and low of the scrip stood at Rs 20.9 and Rs 18.2 respectively.

The promoters holding in the company stood at 48.34 % while Institutions and Non-Institutions held 0 % and 51.66 % respectively.
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