Linde India gains on signing business transfer agreement with HPS Gases

Linde India is currently trading at Rs. 1765.55, up by 3.70 points or 0.21% from its previous closing of Rs. 1761.85 on the BSE.

The scrip opened at Rs. 1785.00 and has touched a high and low of Rs. 1818.30 and Rs. 1763.20 respectively. So far 4976 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2078.60 on 19-Apr-2021 and a 52 week low of Rs. 638.40 on 04-Aug-2020.

Last one week high and low of the scrip stood at Rs. 1818.30 and Rs. 1724.85 respectively. The current market cap of the company is Rs. 15056.08 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 12.02% and 12.98% respectively.

Linde India has signed a business transfer agreement with HPS Gases to takeover the entire packaged gases vertical along with certain distribution assets for an aggregate cash consideration of Rs 27.5 crore. The acquisition that will come into effect from November 1, 2021 will help expand Linde’s presence in the packaged gas and micro bulk market in western India. Linde will supply liquid products to Vadodara-based HPS Gases and purchase gases in packaged and mini bulk under a long-term contract.

Linde India is engaged in manufacturing of industrial gases and undertaking engineering projects.