/ Jindal Worldwide Gains On Acquiring 100% Stake in Niharika Threads ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 6 November 2017



Jindal Worldwide is currently trading at Rs. 1209.50, up by 1.70 points or 0.14% from its previous closing of Rs. 1207.80 on the BSE.

The scrip opened at Rs. 1210.00 and has touched a high and low of Rs. 1229.95 and Rs. 1187.05 respectively. So far 3812 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1308.15 on 31-Oct-2017 and a 52 week low of Rs. 155.00 on 02-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1308.15 and Rs. 1186.00 respectively. The current market cap of the company is Rs. 2425.29 crore.

The promoters holding in the company stood at 61.15%, while institutions and non-institutions held 0.11% and 38.74% respectively.

Jindal Worldwide has acquired 70,10,000 Equity Shares of Rs 10 each at par aggregating to Rs 7.01 crore of Niharika Threads.

Consequent to the said investment and further to the receipt of allotment letter of said shares on November 6, 2017, the company becomes the shareholder of Niharika Threads with aggregate of 100% Stake of Equity Share capital, and as a result Niharika Threads becomes the Wholly Owned Subsidiary Company and a Related Party of Jindal Worldwide.

The main objective of Jindal Worldwide is establishing itself as a market leader in the field of home textiles and readymade garment exports by rendering efficient and effective services.

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