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RMC Switchgears zooms on divesting entire stake in subsidiary

RMC Switchgears is currently trading at Rs. 32.75, up by 1.40 points or 4.47% from its previous closing of Rs. 31.35 on the BSE.

The scrip opened at Rs. 32.75 and has touched a high and low of Rs. 32.75 and Rs. 32.75 respectively. So far 2000 shares were traded on the counter.

The BSE group ‘M’ stock of face value Rs. 10 has touched a 52 week high of Rs. 57.25 on 13-Mar-2019 and a 52 week low of Rs. 24.70 on 29-Aug-2019.

Last one week high and low of the scrip stood at Rs. 34.80 and Rs. 26.95 respectively. The current market cap of the company is Rs. 19.95 crore.

The promoters holding in the company stood at 56.27%, while Non-Institutions held 43.73%.

RMC Switchgears has divested/ sold its entire investment in equity shares of its wholly owned Subsidiary i.e. Explora IOT Solutions. Accordingly, Explora IOT Solutions ceases to be a Subsidiary Company of RMC Switchgears.

RMC Switchgears is primarily engaged in the business of designing and manufacturing of, Enclosures of Energy Meters, LT/HT Distribution Boxes and Panels, Junction Boxes, Feeder Pillars and other Power Distribution and Circuit Protection Switchgears made from Mild Steel, Stainless Steel in Fabrication and Deep Drawn Process along with Sheet Moulding Compound and Bulk Moulding Compound (DMC) materials.

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