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Commercial Engineers shines on signing agreement to form joint venture

Commercial Engineers is currently trading at Rs. 15.36, up by 0.75 points or 5.13% from its previous closing of Rs. 14.61 on the BSE.

The scrip opened at Rs. 15.25 and has touched a high and low of Rs. 15.61 and Rs. 14.95 respectively. So far 17236 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 30.05 on 28-Dec-2018 and a 52 week low of Rs. 11.07 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 15.90 and Rs. 13.95 respectively. The current market cap of the company is Rs. 139.15 crore.

The promoters holding in the company stood at 60.71%, while Institutions and Non-Institutions held 9.33% and 29.96% respectively.

Commercial Engineers & Body Builders Company has signed / entered into a Share Subscription and shareholders agreement for the formation of a joint venture between Commercial Engineers & Body Builders Company, Jupiter Wagons, KOVIS DOO and KOVIS IND DOO and the consequent subscription of equity shares of the joint venture company, Jupiter Kovis (INDIA) incorporated for the purpose of the joint venture.

Commercial Engineers & Body Builders Company is engaged in the business of manufacturing vehicle bodies for the commercial vehicles industry for Original Equipment Manufacturers (OEMs) and in the production of Fully Built Vehicles (FBVs).

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