Lloyds Enterprises Ltd to acquire 7% stake in Lloyds Metals & Minerals Trading LLP

Lloyds Enterprises Limited has announced a strategic move towards strengthening its position in the group by acquiring a 7% stake in Lloyds Metals & Minerals Trading LLP (Lloyds LLP). This acquisition aligns with Lloyds Enterprises corporate strategy to enhance its investment portfolio and strengthen its position. This 7% stake implies a significant market value of the investments held by Lloyds LLP.

With this investment, Lloyds Enterprises extends an indirect holding in Lloyds Metals and Energy Limited (LMEL) and Lloyds Engineering Works Limited (LEWL), further solidifying its exposure in the group companies. The increased holding in Lloyds Metals and Energy Limited and Lloyds Engineering Works Limited reflects Lloyds Enterprises confidence in the long-term growth prospects of these companies.

"The acquisition of a 7% stake in Lloyds LLP demonstrates our dedication to optimizing our group company holdings and fortifying Lloyds Enterprises as a robust entity," said Mr. Babulal Agarwal, Managing Director at Lloyds Enterprises Limited.

Lloyds Enterprises remains committed to its vision of sustained growth, market leadership, and value creation for its shareholders and stakeholders. The company will continue to explore opportunities that align with its strategic objectives, aiming to achieve a more significant presence in the market and deliver superior results.

Shares of Lloyds Enterprises Limited was last trading in BSE at Rs. 34.09 as compared to the previous close of Rs. 34.92. The total number of shares traded during the day was 1560963 in over 1381 trades.

The stock hit an intraday high of Rs. 35.14 and intraday low of 33.30. The net turnover during the day was Rs. 53323729.00.

Source : Equity Bulls

Keywords

LloydsEnterprises INE080I01025 StakeAcquisition LloydsMetalsandMineralsTradingLLP