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Swan Energy rises on acquiring stake in Swan Desilting

Swan Energy is currently trading at Rs. 102.00, up by 0.45 points or 0.44% from its previous closing of Rs. 101.55 on the BSE.

The scrip opened at Rs. 101.00 and has touched a high and low of Rs. 103.25 and Rs. 100.45 respectively. So far 88630 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 134.50 on 26-Feb-2019 and a 52 week low of Rs. 93.50 on 13-Feb-2019.

Last one week high and low of the scrip stood at Rs. 104.75 and Rs. 100.45 respectively. The current market cap of the company is Rs. 2475.54 crore.

The promoters holding in the company stood at 64.89%, while Institutions and Non-Institutions held 12.38% and 22.73% respectively.

Swan Energy has invested Rs 1 lakh in ‘Swan Desilting’ for purchase of its 100% equity shares, equivalent to 10,000 equity shares of Rs 10 each. By virtue of this, ‘Swan Desilting’ has become a 100% subsidiary company of the company.

Swan Energy is engaged in trading in fabric as well as in development of properties. Their activity includes manufacturing and marketing of cotton and polyester sarees and shirtings in India.

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