22 May 2024

Mayur Uniquoters shines on getting nod to invest upto Rs 30 crore in Mayur Uniquoters Corp

Mayur Uniquoters is currently trading at Rs. 545.00, up by 6.05 points or 1.12% from its previous closing of Rs. 538.95 on the BSE.

The scrip opened at Rs. 549.00 and has touched a high and low of Rs. 555.00 and Rs. 538.95 respectively. So far 2522 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 616.15 on 02-Jan-2024 and a 52 week low of Rs. 445.20 on 24-May-2023.

Last one week high and low of the scrip stood at Rs. 555.00 and Rs. 516.90 respectively. The current market cap of the company is Rs. 2371.68 crore.

The promoters holding in the company stood at 58.52%, while Institutions and Non-Institutions held 9.28% and 32.20% respectively.

Mayur Uniquoters has received approval for investment upto the amount of Rs 30 crore in one or more tranches by way of subscribing to the Common stock of Mayur Uniquoters Corp (MUC) USA, Wholly Owned Subsidiary Company, subject to applicable laws. 

The objective of investment is to provide the financial assistance to Mayur Uniquoters Corp to purchase the land in Mexico for warehouse of stock of artificial leather. The proposed investment enabling the company to set up its own warehouse abroad which would in turn increase business operations/profitability of Company.

Mayur Uniquoters Shareholding in Mayur Uniquoters Corp post this investment remains as 100%. Its remains wholly owned subsidiary. The business of Mayur Uniquoters Corp is in line with the main line of business of Mayur Uniquoters.

Mayur Uniquoters is the largest manufacturer of artificial leather/ PVC vinyl, using the 'Release Paper Transfer Coating Technology' in India.