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Coastal Corporation zooms on getting nod to merge Continental Fisheries with itself

Coastal Corporation is currently trading at Rs. 291.35, up by 26.45 points or 9.98% from its previous closing of Rs. 264.90 on the BSE.

The scrip opened at Rs. 287.90 and has touched a high and low of Rs. 291.35 and Rs. 271.10 respectively. So far 4873 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 443.15 on 22-Nov-2018 and a 52 week low of Rs. 125.50 on 11-Oct-2019.

Last one week high and low of the scrip stood at Rs. 291.35 and Rs. 214.30 respectively. The current market cap of the company is Rs. 292.76 crore.

The promoters holding in the company stood at 32.92% and Non-Institutions held 67.08 %.

Coastal Corporation has received approval for amalgamation of Continental Fisheries, a wholly owned subsidiary of the company with itself. Continental Fisheries is involved in processing, packing and exporting of Vannamei mps. The major markets are China, Russia and the Middle East. The Company is a Merchant Exporter. The Board of Directors of the Company at its meeting held on November 08, 2019 has approved the same.

Coastal Corporation is a leading manufacturer and trading company in Delhi exporting to almost all Middle East companies.

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