Thursday , December 2 2021

Swan Energy moves up on planning to divest 100% stake in Swan Desilting

Swan Energy is currently trading at Rs. 121.50, up by 3.50 points or 2.97% from its previous closing of Rs. 118.00 on the BSE.

The scrip opened at Rs. 118.95 and has touched a high and low of Rs. 124.05 and Rs. 118.95 respectively. So far 1587 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 175.55 on 29-Jul-2021 and a 52 week low of Rs. 117.00 on 25-Nov-2021.

Last one week high and low of the scrip stood at Rs. 124.45 and Rs. 117.00 respectively. The current market cap of the company is Rs. 2882.23 crore.

The promoters holding in the company stood at 64.89%, while Institutions and Non-Institutions held 11.57% and 23.54% respectively.

Swan Energy has decided to divest its 100% shareholding at par (10,000 equity shares of Rs 10 each) in one of its Wholly Owned Subsidiary (WOS), Swan Desilting (SDPL), not being the ‘Material Subsidiary’. Consequently, SDPL will cease to be the subsidiary of the company.

Swan Energy is an emerging green energy company with a successful track record in infrastructure projects and textiles too.

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