Pricol share price was trading lower in the early trade on January 3 after the company approved divestment of wiping business division to Auto Ignition.
At 09:55am, Pricol was quoting at Rs 545.10, down Rs 8.65, or 1.56 percent, on the BSE.
"..... board at their meeting held on January 2 approved divestment of wiping business division to Auto Ignition on a slump sale basis through execution of business transfer agreement," company said in its release.
In FY24 the revenue from operations of wiping business division stood at Rs 66.36 crore.
The consideration for the proposed transaction is Rs 20 crores, subject to adjustments set out in the business transfer agreement.
Pricol is in the business of auto components including wiper motor and washer kits as one of its divisions, while Auto Ignition is in the business of motors and alternators for the automotive sector.
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In the month of December, Pricol through its subsidiary Pricol Precision Products announced acquisition of Sundaram Auto Components' Injection Moulding business through an all-cash deal for an amount of Rs 215.3 crore.
The share touched a 52-week high of Rs 598.85 and a 52-week low of Rs 330.50 on 19 December, 2024 and 14 March, 2024, respectively.
Currently, the stock is trading 8.98 percent below its 52-week high and 64.93 percent above its 52-week low.
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