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Equity | News | Hot Pursuit
Hot Pursuit
Ingersoll-Rand (India) Q4 PAT rises 14% to Rs 19 cr
(15:08, 30 Jun 2020)

Standalone profit before tax (PBT) slipped 9.19% to Rs 26.07 crore in Q4 FY20 as against Rs 28.71 crore in Q4 FY19. Total tax expense slumped 42.34% to Rs 6.85 crore in Q4 FY20 over Q4 FY19. The Q4 result was declared during trading hours today, 30 June 2020.

The company believes that the pandemic is not likely to have a significant impact on the recoverability of the carrying value of its assets. The company is closely monitoring the developments and it is actively working to minimise the impact of this unprecedented situation.

Meanwhile, Ingersoll-Rand (India) on 19 June 2020 published a pre-offer newspaper advertisement referring an open offer made by Ingersoll Rand Inc. (formerly known as Gardener Denver Holdings, Inc.) along with Ingersoll-Rand U.S. HoIdCo Inc., and Ingersoll Rand Industrial U.S., Inc., to acquire up to 82,07,680 equity shares, or 26% equity, of Ingersoll-Rand (India) at Rs 642.63 per share.

The tendering period of the open offer commenced on 22 June 2020 and will close on 3 July 2020. The company said that 24 July 2020 is the last date for publication of post-offer public announcement in the newspapers in which the Detailed Public Statement (DPS) has been published. Total promoter holding in Ingersoll-Rand (India) stood at 74% as on 31 March 2020.

Ingersoll-Rand (India) is primarily engaged in the business of manufacturing and sale of industrial air compressors of various capacities and related services, and its complete machines and spare parts.

Shares of Ingersoll-Rand (India) rose 0.23% to Rs 639.50 on BSE. The scrip hovered in the range of Rs 638 to Rs 641.95 so far.

On the technical front, the stock's RSI (relative strength index) stood at 60.299. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 631.47 and its 200-day moving average (DMA) placed at 633.13.

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