K M Sugar Mills Ltd to increase stake in Sonar Casting Ltd to 100%

K.M. Sugar Mills Ltd will further acquire 80.18% stake in Sonar Casting Limited. With this acquisition, the total holding of the company in Sonar Casting Limited shall increase from 19.82% to 100% and consequently Sonar Casting Limited shall become Wholly Owned Subsidiary Company of K M Sugar Mills Ltd.

The cost of acquisition will be Rs. 4,41,00,000/-.

The company is into manufacturing of Iron Casting, Ductile. The company commenced commercial production with effect from October 1, 2020.

Shares of K.M.SUGAR MILLS LTD. was last trading in BSE at Rs.10.76 as compared to the previous close of Rs. 10.97. The total number of shares traded during the day was 15616 in over 38 trades.

The stock hit an intraday high of Rs. 11.05 and intraday low of 10.5. The net turnover during the day was Rs. 167808.

Source : Equity Bulls

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