Prism Johnson gains after acquisition

Prism Johnson rose 1.4% to Rs 90.85 at 14:51 IST on BSE after the company announced acquisition of 27% stake in CSE Solar Parks Satna.

The announcement was made during market hours today, 19 March 2019.

Meanwhile, the S&P BSE Sensex was up 228.03 points, or 0.6% to 38,323.10

On the BSE, 48,000 shares were traded in the counter so far compared with average daily volumes of 86,000 shares in the past two weeks. The stock had hit a high of Rs 92.70 and a low of Rs 89.20 so far during the day.

Prism Johnson said that the company has acquired 3,700 equity shares of Rs 10 each aggregating to Rs 37,000 constituting 27% in the total paid-up equity share capital of CSE Solar Parks Satna. CSE Solar was incorporated on 19 July 2017 and is engaged in the business of providing solar power solutions comprising of consulting, design, engineering, fabrication, installation, commissioning and monitoring of distributed rooftop solar power plants primarily for captive consumption of commercial and industrial customers in India

Prism Johnson reported 28.08% rise in net profit to Rs 19.02 crore on 9.43% rise in total income to Rs 1442.17 crore in Q3 December 2018 over Q3 December 2017.

Prism Johnson (earlier known as Prism Cement) is one of India's leading integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens.

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