Garg Furnace shares have a 52-week high of Rs 441.20 and a 52-week low of Rs 133.70. The company’s shares have gained 41 per cent so far this year. The stock has gained a spectacular 150 per cent in the last one year. Not only this, the stock has made a bumper profit of 1775 per cent in the last three years
Garg Furnace shares may see action on the next trading day i.e. Monday. Actually, the company has announced to acquire majority stake in Vanira Industries. The company disclosed this strategic investment on Saturday (September 7), which aims to expand its business in alloy steel, screw and fastener sectors. Last Friday, the company’s shares fell by 0.07 percent. The stock closed at Rs 375.35 on BSE. The market cap of the company is Rs 173 crore.
Statement by Garg Furnace
Chairman Devinder Garg said the move will help the company expand its presence in these industries. BSE-listed Garg Furnaces announced on September 7, 2024 that it has approved the acquisition of at least 51 per cent stake in Vanira Industries Private Limited. After this acquisition, Vanira Industries will become a subsidiary of Garg Furnaces.
