Ram Ratna Wires climbs on getting nod for sale of equity investment held in R R Kabel

Ram Ratna Wires is currently trading at Rs. 199.40, up by 7.15 points or 3.72% from its previous closing of Rs. 192.25 on the BSE.

The scrip opened at Rs. 194.00 and has touched a high and low of Rs. 204.65 and Rs. 187.30 respectively. So far 17019 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 253.75 on 15-Sep-2022 and a 52 week low of Rs. 79.35 on 30-Jun-2022.

Last one week high and low of the scrip stood at Rs. 207.40 and Rs. 172.90 respectively. The current market cap of the company is Rs. 877.58 crore.

The promoters holding in the company stood at 73.04%, while Institutions and Non-Institutions held 0.59% and 26.37% respectively.

Ram Ratna Wires has received an approval for sale of its equity investment held in R R Kabel by offering for sale for cash up to 13,64,480 equity shares of face value of Rs 5 per share held in R R Kabel by participating in the proposed initial public offering (IPO) of R R Kabel, subject to the processes, compliances and conditions under the applicable laws, at such price per equity share as may be fixed and determined during the IPO process.

The Board of Directors of the Company at their meeting held on April 12, 2023 has considered and approved the same.

Ram Ratna Wires is engaged in manufacturing of enamelled copper winding wires.