Somany Ceramics Ltd signs agreement to acquire balance stake in Somany Bath Fittings Pvt Ltd

Somany Ceramics Limited ("SCL" or "Company") had signed a Share Subscription cum Shareholders Agreement with Mr. Kanwardeep Singh and Mr. Adesh Kaundal and M/s Somany Bath Fittings Private Limited.

With a view to have full control over the manufacturing operations of M/s Somany Bath Fitting Private Limited ("Subsidiary of the Company") by SCL, it was mutually agreed between the parties that SCL will purchase the equity shares from Mr. Kanwardeep Singh and Mr. Adesh Kaundal, holding 49% of the subscribed and paid up capital of M/s Somany Bath Fittings Private Limited, so as to make it a Wholly Owned Subsidiary of the Company.

Shares of Somany Ceramics Limited was last trading in BSE at Rs. 836.55 as compared to the previous close of Rs. 832.35. The total number of shares traded during the day was 1602 in over 510 trades.

The stock hit an intraday high of Rs. 849.75 and intraday low of 818.60. The net turnover during the day was Rs. 1338628.00.

Source : Equity Bulls

Keywords

SomanyCeramics INE355A01028 ShareAcquisition SomanyBathFittings