Euro Finmart gains on plan of diversifying its business into e-governance space

Euro Finmart is currently trading at Rs. 96.35, up by 0.35 points or 0.36% from its previous closing of Rs. 96.00 on the BSE. The scrip opened at Rs. 96.10 and has touched a high and low of Rs. 97.50 and Rs. 95.70 respectively. So far 9452 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 157.25 on 13-Dec-2013 and a 52 week low of Rs. 50.00 on 17-Sep-2013. Last one week high and low of the scrip stood at Rs. 98.70 and Rs. 95.10 respectively. The current market cap of the company is Rs. 46.71 crore. The promoters holding in the company stood at 3.30 % while Institutions and Non-Institutions held 0.03 % and 96.67 % respectively. Euro Finmart has received an approval to diversify its business into e-governance related projects and services thereby considered the change in main objects of the company subject to the approval of shareholders by postal ballot. The board of directors at its meeting held on May 26, 2014 has approved for the same. The board also approved to increase the authorized share capital of the company from Rs 5 crore to Rs 10 crore subject to the approval of shareholders in AGM. Euro Finmart was incorporated for setting up gold Jewellery Manufacturing unit at Noida Export Processing Zone, Noida at Uttar Pradesh in phased manner.