Asian Granito India rises on acquiring 61% stake in Gresart Ceramica

Asian Granito India is currently trading at Rs. 45.59, up by 0.54 points or 1.29% from its previous closing of Rs. 45.05 on the BSE.

The scrip opened at Rs. 44.21 and has touched a high and low of Rs. 45.94 and Rs. 44.21 respectively. So far 3365 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 70.05 on 06-Sep-2022 and a 52 week low of Rs. 34.22 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 46.88 and Rs. 44.21 respectively. The current market cap of the company is Rs. 570.99 crore.

The promoters holding in the company stood at 29.02%, while Institutions and Non-Institutions held 1.20% and 69.79% respectively.

Asian Granito India has acquired 91,50,000 equity shares which amounts to 61% total equity share capital of ‘Gresart Ceramica’, Step-down Subsidiary of the company from Amazoone Ceramics which is a Material Subsidiary of the company. Accordingly, Gresart Ceramica has become a subsidiary of the company.

Asian Granito India is one of the top four Indian ceramic Companies engaged in the business of manufacturing, and trading of Ceramic Wall, Floor, Vitrified Tiles, Marble & Quartz Headquartered in Gujarat.

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