Dynamatic Technologies gains on inking pact for sale of additional non-core assets

Dynamatic Technologies is currently trading at Rs. 901.00, up by 8.50 points or 0.95% from its previous closing of Rs. 892.50 on the BSE. The scrip opened at Rs. 919.00 and has touched a high and low of Rs. 937.00 and Rs. 901.00 respectively. So far 269 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 952.70 on 28-Mar-2014 and a 52 week low of Rs. 465.00 on 27-Aug-2013. Last one week high and low of the scrip stood at Rs. 937.00 and Rs. 807.00 respectively. The current market cap of the company is Rs. 499.16 crore. The promoters holding in the company stood at 55.99% while Institutions and Non-Institutions held 20.05% and 23.96% respectively. Dynamatic Technologies has signed an agreement for sale of additional non-core assets for Rs 70 crore. This sale of non-core assets is part of the company’s initiatives to reduce its overall debt thereby improving its Balance Sheet. Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.