Veto Switchgears and Cables Ltd acquires 46% in Vankon Modular Pvt Ltd

Veto Switchgears and Cables Limited has acquired 46% stake in Vankon Modular Private Limited, Mumbai. Vankon Modular Private Limited engaged in manufacturing of Electrical Accessories, LED Lighting, Wires & Cables.

Turnover of the Vankon Modular Private Limited for the Financial Year 2019-2020 is Rs. 70.00 Crores approx. Company is having market presence mainly in Delhi NCR, Uttar Pradesh, Rajasthan and Maharashtra.

Veto Switchgears and Cables Limited acquire 46% stake (652000) Equity Share @ Rs. 32/- per share on the basis of NAV based on 31.03.2020.

Shares of Veto Switchgears and Cables Ltd was last trading in BSE at Rs.47.95 as compared to the previous close of Rs. 47.45. The total number of shares traded during the day was 5072 in over 86 trades.

The stock hit an intraday high of Rs. 47.95 and intraday low of 46.2. The net turnover during the day was Rs. 238113.

Source : Equity Bulls

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