Subros Gains On Fund Raising Plans

Subros Limited, today announced that its board of directors will be considering a proposal to issue secured/unsecured, redeemable, non-convertible debentures, for which it will meet on March 29, 2017.

The stock hit an intraday high of Rs 198 per share; and an intraday low of Rs 191 per share. The stock has delivered returns of 112% in a period of one year, outperforming the BSE Small-cap and BSE Auto indices over the same time span.

Subros Limited is engaged in providing automotive air conditioning parts and accessories of automotive systems. It is a manufacturer of thermal products for automotive applications in India. Its product range spans across auto air-conditioning and engine cooling systems for passengers, as well as commercial vehicles.

Subros Ltd is currently trading at Rs 196.4, up by Rs 3.4 or 1.76% from its previous closing of Rs 193 on the BSE.

The scrip opened at Rs 187.2 and has touched a high and low of Rs 197.4 and Rs 187.2 respectively. So far 30953(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1157.78 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 205.9 on 20-Feb-2017 and a 52 week low of Rs 77.5 on 30-May-2016. Last one week high and low of the scrip stood at Rs 200 and Rs 184.75 respectively.

The promoters holding in the company stood at 40.01 % while Institutions and Non-Institutions held 5.49 % and 54.5 % respectively. The stock is currently trading above its 50 DMA.

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About Suhani Varma

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