Asian Granito gains on getting nod to divest its JV Company

Asian Granito India is currently trading at Rs. 228.15, up by 0.95 points or 0.42% from its previous closing of Rs. 227.20 on the BSE.

The scrip opened at Rs. 225.50 and has touched a high and low of Rs. 233.35 and Rs. 225.50 respectively. So far 23578 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 444.45 on 22-May-2018 and a 52 week low of Rs. 130.00 on 15-Jan-2019.

Last one week high and low of the scrip stood at Rs. 238.00 and Rs. 214.95 respectively. The current market cap of the company is Rs. 686.45 crore.

The promoters holding in the company stood at 33.12%, while Institutions and Non-Institutions held 9.23% and 57.66% respectively.

Asian Granito India has received approval for divestment in Joint Venture (JV) — AGL Panaria. The Board of Directors of the Company at its meeting held on May 21, 2019 has approved the same. Indian Market dynamics have changed dramatically in terms of Advanced Production technology. The company has upgraded to cater all types of market requirements for domestic as well as in Export. In lieu of these changes the Company has agreed to part with effect from May 21, 2019.

Earlier, Panaria Group Ceramiche, Italy one of the leading Tile Manufacturing and Asian Granito India had entered into a JV in Year 2012. The purpose was that Asian would get benefit of Imported Advanced technology of Panaria, Italy and the mission was to market luxury ceramic tiles to cater high end market segment.

Asian Granito India is one of the top four Indian ceramic Companies engaged in the business of manufacturing, and trading of Ceramic Wall, Floor, Vitrified Tiles, Marble & Quartz Headquartered in Gujarat.

The post Asian Granito gains on getting nod to divest its JV Company appeared first on Udaipur News | Udaipur Latest News | udaipur local news.

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