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Banco Products surges on getting nod to analyze various restructuring options

Banco Products (India) is currently trading at Rs. 93.25, up by 0.25 points or 0.27% from its previous closing of Rs. 93.00 on the BSE.

The scrip opened at Rs. 93.20 and has touched a high and low of Rs. 93.50 and Rs. 93.20 respectively.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 198.80 on 24-Dec-2018 and a 52 week low of Rs. 91.00 on 27-Aug-2019.

Last one week high and low of the scrip stood at Rs. 97.00 and Rs. 92.20 respectively. The current market cap of the company is Rs. 666.91 crore.

The promoters holding in the company stood at 67.88%, while Institutions and Non-Institutions held 4.58% and 27.54% respectively.

Banco Products (India) has received in-principle approval to identify / analyses various restructuring options available with the Company (Being Sale / transfer / disposal of assets of subsidiaries / material subsidiary of the Company or disposal of investment in material subsidiary of the Company) which shall be in the interest of the Company and its stakeholders. The Board of Directors of the Company at its meeting held on December 07, 2019 has approved the same.

Banco Products (India) is engaged in the manufacture of high quality engine cooling components and engine sealing gaskets to the automotive.

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