09 Aug 2024

Bansal Wire Industries Acquires Full Stake in Bansal Steel & Power

Bansal Wire Industries' shares are trading at Rs. 353.25, a rise of 1.50 points or 0.43% from the previous close of Rs. 351.75 on the BSE.

The stock began the day at Rs. 359.65 and fluctuated between a high of Rs. 359.65 and a low of Rs. 353.05. A total of 3340 shares have been traded so far.

This BSE group 'B' stock, with a face value of Rs. 5, hit its 52-week high of Rs. 385.00 on August 1, 2024, and a 52-week low of Rs. 325.05 on July 23, 2024.

Over the past week, the stock reached a high of Rs. 367.95 and a low of Rs. 343.90. The company's market cap stands at Rs. 5506.86 crore.

Promoters hold 64.21% of the company, while Non-Institutional investors own 35.79%.

Bansal Wire Industries has successfully acquired the remaining 23.85% stake in Bansal Steel & Power. Following this acquisition, as per the Share Purchase Agreement, the company's ownership in Bansal Steel & Power has increased from 76.15% to 100%, making it a wholly-owned subsidiary as of August 8, 2024.

Bansal Wire Industries specializes in producing various types of wires and strips, including high and low carbon steel wires, galvanized wire, cable armoring wires, stainless steel wires, and specialty wires, which have a wide range of applications.