24 Sep 2024

International Conveyors Gains on Stake Acquisition in Sterling and Wilson Renewable Energy

International Conveyors is currently trading at Rs. 105.12, marking an increase of 3.58 points or 3.53% from its last close of Rs. 101.54 on the BSE.

The stock opened at Rs. 101.95 and reached a high of Rs. 106.70, with a low of Rs. 101.73. A total of 256,593 shares have been traded so far.

This BSE 'B' group stock, with a face value of Rs. 1, hit a 52-week high of Rs. 124.79 on February 8, 2024, and a low of Rs. 70.00 on March 14, 2024. In the past week, it recorded a high of Rs. 106.70 and a low of Rs. 88.97. The company's current market capitalization stands at Rs. 671.06 crore.

Promoters hold 68.60% of the company, while institutional investors and non-institutional investors own 0.01% and 31.39%, respectively.

International Conveyors recently acquired 41,860 equity shares of Sterling and Wilson Renewable Energy for Rs. 2.88 crore. Sterling and Wilson Renewable Energy provides complete solar EPC solutions, from concept to commissioning, with a focus on an asset-light business model.

International Conveyors Limited (ICL), based in India, is involved in producing and selling solid woven carcass reinforced fire-retardant antistatic PVC conveyor belts, particularly for explosive and fire-hazardous underground mining applications.