Modi Naturals rises on incorporating wholly owned subsidiary

Modi Naturals is currently trading at Rs. 75.75, up by 0.50 points or 0.66% from its previous closing of Rs. 75.25 on the BSE.

The scrip opened at Rs. 81.00 and has touched a high and low of Rs. 81.00 and Rs. 71.55 respectively. So far 1513 shares were traded on the counter.

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The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 92.00 on 09-Mar-2021 and a 52 week low of Rs. 20.15 on 07-May-2020.

Last one week high and low of the scrip stood at Rs. 81.00 and Rs. 67.00 respectively. The current market cap of the company is Rs. 93.59 crore.

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The promoters holding in the company stood at 66.88%, while Institutions and Non-Institutions held 0.36% and 32.75% respectively.

Modi Naturals has incorporated wholly owned subsidiary namely ‘Modi Biotech’ on April 27, 2021. The company wants to expand its business activities. In this regard, the company has incorporated a wholly-owned subsidiary in India for carrying out business operations of manufacturer of spirits and related activities.

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Modi Naturals manufactures de-oiled cakes, rice barn oils, other oils, and ice at Pilibhit in Uttar Pradesh and Sangrur in Punjab.