Introduction:
Auto ancillary company has announced the acquisition of 100% equity in TGPEL Precision Engineering through its wholly-owned subsidiary. This strategic move is set to enhance product offerings and manufacturing capabilities, boosting investor confidence and growth prospects.
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Share price movement of Shriram Pistons:
On December 10, 2024, Shriram Pistons & Rings opened at ₹2,209.00, up 1.16% from its previous close of ₹2,183.65. The stock reached a high of ₹2,269.00 (3.04%) and a low of ₹2,152.35. By 4:00 PM, it traded at ₹2,248.10, a 2.94% increase, with a market cap of ₹9,911.21 crore.
Shriram Pistons to Acquire TGPEL Precision Engineering:
Shriram Pistons & Rings Limited (SPRL) announced that its wholly-owned subsidiary, SPR Engenious Limited, has entered into a Share Purchase Agreement to acquire 100% equity in TGPEL Precision Engineering Limited. The deal was finalized on December 10, 2024.
This acquisition aligns with SPRL’s strategy to strengthen its position. By acquiring TGPEL Precision Engineering, SPRL aims to expand its product portfolio and enhance manufacturing capabilities, boosting investor confidence in the company’s future growth prospects.
The company has complied with SEBI’s Listing Obligations and Disclosure Requirements, sharing the necessary details in accordance with Regulation 30(2) of SEBI’s regulations. A press release about the acquisition has also been issued and is available on SPRL’s website.
Stock performance of Shriram Pistons for Period of 1 week, 6 months and 1 year:
Shriram Pistons & Rings Limited has demonstrated strong performance with a 4.57% return over the past week, 14.9% over six months, and an impressive 115% return over the past year, showcasing significant growth and solid investor confidence.
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Shareholding pattern of Shriram Pistons:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 43.80% | 46.80% | 46.80% |
| FII | 4.30% | 2.00% | 1.40% |
| DII | 12.80% | 12% | 12.60% |
| Public | 39.20% | 39.40% | 39.40% |
About Shriram Pistons:
Shriram Pistons & Rings (NSE: SHRIRAMPIST) is a manufacturer of pistons, piston pins, piston rings, and engine valves. The company serves renowned OEMs and aftermarket sectors, catering to both domestic and international markets under the SPR and USHA brands.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
