Prakash Industries shares nearly 3% faster

Prakash Industries shares are getting close to 3% in the stock.

Actually, Prakash Industries has got approval from the NCLT (National Company Law Tribunal) to separate its pipe business into a separate company. Now Prakash Industries will set up its PVC pipes and fittings and flexible packaging businesses in a company called Prakash Pipes. 

On the other hand, Prakash Industries’s shares in BSE are open at Rs 94.00 in green mark today compared to the last closed price of Rs 90.65. It is running at Rs. 93.25 with an increase of 2.60 rupees or 2.87% at around 10 pm. The company’s market capitalization at this price is Rs 1,526.48 crores. At the same time, its last 52-week peak is Rs 232.40 and the lower level is 67.00 rupees.

Prakash Industries, which started in 1980, produces ferro alloys, MS TMT / MS coil and allied products, HB wire rod and PVC pipes and sockets. The company’s segments include Power, Steel and PVC pipes. Whereas its product range includes sponge iron, power, wire rod, thermo mechanical treatment (TMT) bar and hard polyvinyl chloride (PVC) pipe.

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