14 Sep 2024

Race Eco Chain Advances After Establishing Joint Venture Subsidiary

Race Eco Chain's stock is currently priced at Rs. 432.05, showing a rise of 12.50 points or 2.98% from its previous close of Rs. 419.55 on the BSE.

The stock opened at Rs. 422.50 and reached an intraday high of Rs. 433.60 and a low of Rs. 419.95. A total of 1,432 shares have been exchanged so far.

This BSE group 'B' stock, with a face value of Rs. 10, has previously touched a 52-week high of Rs. 457.25 on July 2, 2024, and a low of Rs. 230.85 on October 23, 2023.

In the last week, the stock recorded a high of Rs. 438.65 and a low of Rs. 414.90. The company's current market capitalization stands at Rs. 699.44 crore.

Promoters hold a 44.79% stake in the company, while institutions hold 0.17%, and the remaining 55.04% is with non-institutional investors.

Race Eco Chain has formed a Joint Venture entity named 'Ganesha Recycling Chain' as of September 10, 2024, in collaboration with Ganesha Ecosphere. The new venture aims to establish washing plants for producing PET flakes. With this development, 'Ganesha Recycling Chain' will become a subsidiary of Race Eco Chain.

Race Eco Chain focuses on crafting and trading premium home textile products.