Roto Pumps soars on getting nod to set-up JVC in Singapore

Roto Pumps is currently trading at Rs. 150.00, up by 3.60 points or 2.46% from its previous closing of Rs. 146.40 on the BSE. The scrip opened at Rs. 144.00 and has touched a high and low of Rs. 150.00 and Rs. 144.00 respectively. So far 1016 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 155.90 on 20-Nov-2013 and a 52 week low of Rs. 82.00 on 26-Aug-2013. Last one week high and low of the scrip stood at Rs. 150.00 and Rs. 137.50 respectively. The current market cap of the company is Rs. 45.74 crore. The promoters holding in the company stood at 69.71% while Institutions and Non-Institutions held 0.05% and 30.24% respectively. Roto Pumps has received an approval for setting-up of a joint venture company (JVC) in Singapore. The JVC would further make strategic investments in the related field including business development of company’s products in African continent. The board of directors at its meeting held on April 11, 2014 has approved for the same. The board also approved setting-up of a wholly owned subsidiary company in United States to establish and grow significantly the sales and marketing of the company’s products in North America. Roto Pumps is an engineering company with global focus. With presence in over 40 countries, the company aim to provide localized solutions in application engineering, deliveries and sales support.