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Stovec Industries Ltd.

BSE: 504959 Sector: Industrials
NSE: N.A. ISIN Code: INE755D01015
BSE 16:01 | 26 Mar 2350.05 -1.90
(-0.08%)
OPEN

2435.00

HIGH

2450.00

LOW

2350.00

NSE 05:30 | 01 Jan Stovec Industries Ltd
OPEN 2435.00
PREVIOUS CLOSE 2351.95
VOLUME 900
52-Week high 3237.00
52-Week low 2211.00
P/E 16.64
Mkt Cap.(Rs cr) 491
Buy Price 2340.00
Buy Qty 1.00
Sell Price 2379.90
Sell Qty 1.00
OPEN 2435.00
CLOSE 2351.95
VOLUME 900
52-Week high 3237.00
52-Week low 2211.00
P/E 16.64
Mkt Cap.(Rs cr) 491
Buy Price 2340.00
Buy Qty 1.00
Sell Price 2379.90
Sell Qty 1.00

Stovec Industries Ltd. (STOVECINDS) - Company History

Incorporated in Jun.'73 as Stovec Screens India, Stovec Industries (SIL) acquired its present name on 12 Aug.'88. SIL was promoted by A T E Enterprises. Other group companies are Trumac Engineering Company, and Erhardt & Leimer (India). SIL came out with a rights issue (premium : Rs 90) aggregating Rs 8.98 cr in Feb.'93, to finance various modernisation, diversification and expansion projects, to meet the normal capital expenditure, at a project cost of Rs 26.78 cr. The company is engaged in screens, graphics, industrial machinery, electronics and sintered metal and ferrites. Some of SIL's customers are - DOT, DOT, ITI, etc. Its ferrite division was incurring losses and therefore it discontinued operations of its ferrites division in Apr.'96, as decided by the BIFR. SIL has tied up with Stork Screens, the Netherlands; Prestwick Circuits, Scotland, UK; Imprinta, Switzerland; and Stork Brabant, the Netherlands, etc. Presently, Stork Screens, the Netherlands, holds the majority stake of 51% in the company. The company exports to the US and Europe. SIL's subsidiary is Stork Pumps (India). In 1999 Stormex India was merged with Stovec Industries Ltd with the approval of Mumbai High Court. During 2001-02 the company Stork N V had entered into contract for providing services in connection with the refinery project at Pennar in South India.