Somany Ceramics Ltd to invest Rs. 115 crore in Somany Piastrelle Pvt Ltd

The Board of Directors of Somany Ceramics Ltd have approved the investment upto an amount not exceeding Rs. 115 Crores in one or more tranches, in M/s Somany Piastrelle Private Limited, by way of combination of subscription of equity shares and inter corporate loan, as and when required.

Out of the approved investment of Rs.115 Crores, the Company has now invested Rs. 9,50,00,000/- (Rupees Nine Crore Fifty Lakhs Only) in M/s Somany Piastrelle Private Limited towards the acquisition of equity shares by way of right issue.

Shares of Somany Ceramics Limited was last trading in BSE at Rs. 854.40 as compared to the previous close of Rs. 892.05. The total number of shares traded during the day was 15598 in over 1437 trades.

The stock hit an intraday high of Rs. 940.00 and intraday low of 835.10. The net turnover during the day was Rs. 13624572.00.

Source : Equity Bulls

Keywords

SomanyCeramicsLimited INE355A01028 Investment SomanyPiastrelle