🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Stock jumps 3% after company ventures into defence sector through acquisition 

Published 21-06-2024, 11:21 am
Stock jumps 3% after company ventures into defence sector through acquisition

The shares of one of the leading manufacturers of incandescent and automotive lamps gained 2% to ₹600 per share after the company ventured into defence business by acquiring a majority stake in SKL Private Limited.

On Friday,At 10:55 a.m.,Uravi T and Wedge Lamps Ltd shares were trading at ₹597, up 1.5 percent from the previous close on the National Stock Exchange. The company has a market capitalization of ₹660 crore.

Is Uravi T & Wedge Lamps Ltd (NS:URAV) a buy or sell? Click here to get an InvestingPro subscription for a special discount of 74% at an unbelievable price of only Rs 182 per month

The above link works best from a laptop/desktop and not apps.

Uravi T & Wedge Lamps Limited has announced its decision to acquire up to 55% of the shares of SKL (India) Private Limited (“SKL India”) through a secondary acquisition, to be completed in one or more tranches. The total consideration for this acquisition is up to ₹20.1 Crores, which will be paid to the existing promoters of SKL India (“the Sellers”).

In the first tranche, the Company will acquire up to a 43.91% stake, followed by an additional 6.1% in the second tranche. The remaining stake may be acquired in subsequent tranches.Company reported in its exchange filing.

This strategic acquisition will strengthen the Company’s market position and expand its footprint in the industry.

SKL (India) Private Limited specializes in the design and manufacturing of power systems, associated equipment, and special purpose defence equipment. Through this acquisition, Uravi will be venturing into the defence sector.

Uravi T & Wedge Lamps Limited is a leading manufacturer and supplier of incandescent and wedge-based automotive lamps. The company is largest producer of automotive lamps for instrument clusters in India and the second-largest in the automotive signaling and parking lamps segment for OEMs.

The company specializes in delivering tailored solutions for both OEM and aftermarket sectors. Under the brand name “UVAL,” company offer a range of automotive lighting products, including stoplights, taillights, indicators, and wedge base lamps.

The company has formed strategic collaborations with two prominent LED filament lamp manufacturers in China and the Philippines to broaden its product portfolio.

Over the past 12 months, shares of Uravi T and Wedge Lamps Ltd have surged by 166 percent. Notably, in the last six months alone, the share value has increased by 94 percent.

The company’s revenue has grown by 51 percent, rising from ₹7.36 crore in Q4FY23 to ₹11.08 crore in Q4FY24. During the same period, the net profit improved significantly, shifting from a loss of ₹0.36 crore to a profit of ₹0.55 crore.

Introducing InvestingPro

Through InvestingPro, you can beat the markets with premium insights:

  • Find Undervalued/Overvalued Stocks: Reveal the unbiased Fair Value of any stock based on 1,200+ premium metrics, covering 180,000+ companies worldwide.
  • Instant Financial Bottom Line: Make fully-informed investing decisions with ProTips, bite-size insights that flag risks and rewards on any stock.
  • Get AI-Enhanced Stock Picks: Receive regularly updated ProPicks for any investing strategy, each with a proven track record to beat the S&P 500
  • Boost Your Picks with Data: Instantly see a company's long-term sustainability and Financial Health to know if it's truly a solid investment.
  • Always Pick the Winner: Make instant Peer Comparisons based on over a dozen valuation benchmarks to ensure you always select a top dog.

Now, coming to the great news! For the benefit of our users, we have reduced the prices on all of our Pro and Pro+ plans by almost 74% for a limited period.

Click here to get an InvestingPro subscription for a special discount of 74% at an unbelievable price of only Rs 182 per month

The above link works best from a laptop/desktop and not apps.

Written by Omkar Chitnis

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Stock jumps 3% after company ventures into defence sector through acquisition appeared first on Trade Brains.

Read More

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.