Marsons touches the roof on signing strategic pact to acquire European company

Marsons is currently at its upper circuit limit of Rs 18.70, up by 0.85 points or 4.76% from its previous closing of Rs 17.85 on the BSE.

The scrip opened at Rs 18.70 and has touched a high and low of Rs 18.70 and Rs 17.05 respectively. So far 13,000 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs 10 has touched a 52 week high of Rs 30 on 21-Jan-2010 and a 52 week low of Rs 11.75 on 14-Jul-2009.

Last one week high and low of the scrip stood at Rs 18.90 and Rs 17.05 respectively. The current market cap of the company is Rs 33 crore.

The promoters holding in the company stood at 44.44% while Institutions held 55.56% in the company.

Marsons has signed strategic agreement for acquisition of 100% equity in a well-established European company manufacturing power transformers upto 132 KV class for a consideration of GBP 6.1 million subject to due diligence.

Recently, the company had bagged an order worth Rs 60 crore from Rajasthan Rajya Vidut Prasaran Nigam (RRVPNL).

Marsons is in the business of manufacturing of power and distribution transformers and has also commissioned wind power project.