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Aries Agro zooms on getting nod to incorporate wholly owned subsidiary company

Aries Agro is currently trading at Rs. 69.00, up by 4.95 points or 7.73% from its previous closing of Rs. 64.05 on the BSE.

The scrip opened at Rs. 76.85 and has touched a high and low of Rs. 76.85 and Rs. 68.00 respectively. So far 7990 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 115.00 on 14-Nov-2018 and a 52 week low of Rs. 41.85 on 02-Aug-2019.

Last one week high and low of the scrip stood at Rs. 76.85 and Rs. 62.30 respectively. The current market cap of the company is Rs. 83.29 crore.

The promoters holding in the company stood at 52.66%, while Institutions and Non-Institutions held 0.14% and 47.20% respectively.

Aries Agro has received approval for incorporation of a Wholly Owned Subsidiary Company – Mirabelle Nutrients or any other name as may be approved by the Ministry of Corporate Affairs, Government of India, in India for carrying out the manufacturing activities for similar/extended product lines of the Company. The Board of Directors of the Company at its meeting held on November 13, 2019 has approved the same.

Aries Agro is engaged in the business of manufacturing of micronutrients and other nutritional products for plants and animals.