Modison Metals rises on mulling diversification and expansion plan

Modison Metals is currently trading at Rs. 42.30, up by 0.75 points or 1.81% from its previous closing of Rs. 41.55 on the BSE. The scrip opened at Rs. 41.85 and has touched a high and low of Rs. 43.70 and Rs. 41.75 respectively. So far 28500 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 43.70 on 29-May-2014 and a 52 week low of Rs. 21.35 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 43.70 and Rs. 37.70 respectively. The current market cap of the company is Rs. 141.81 crore. The promoters holding in the company stood at 51.45% while Institutions and Non-Institutions held 0.15% and 48.40% respectively. Modison Metals is eyeing for acquisition as part of its diversification and expansion plan. The board of directors at its meeting held on May 26, 2014 has taken the note of it. Modison Metals is an established manufacturer of electrical contacts made of silver and silver alloys for low, medium and high voltage switchgear industry.