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About Miven Machine Tools
Miven Machine Tools Ltd(formerly Giddings & Lewis India Ltd) originally promoted by Mysore Kirloskar in 1985 in technical Collaboration with The Warner and Swasey Company, a Subsidiary of Giddings & Lewis Inc. USA to manufacture turning machines has completely came into the fold of Foreign partner by buying out the 38% equity stake of Mysore Kirloskars, the Indian Promoters. Subsequent to increasing the stake to 76% by foreign promoters the name of the company was changed to Giddings & Lewis India Ltd from Kirloskar Waner Swasey in July 23, 1999. Latter N A Sirur(Hubli) Pvt Ltd has acquired 86% equity stake of the company and the name of the company has also changed to the present one w.e.f July 23, 2002.
The company came out with a public issue in Nov.'86 to set up a machine tool unit in Karnataka to manufacture 62 computer numerically controlled (CNC) turning machines pa. Due to accumulated losses, the company's debt-equity ratio was 5.4:1 in Mar.'89. To defuse the crisis, the company came out with a liberal rights issue in the ratio of 1:1 to raise the equity.
The company's clientele includes Bharat Forge, Premier Automobiles, Escorts Tractors, BEML, Hindustan Motors, Audco (I), the ordnance factory project, heavy vehicle factories, etc.
The company proposes to diversfy into the manufacture of co-ordinate measuring machines (CMM) with Giddings & Lewis as a joint partner, with a 100% buy-back arrangement to sell this product in the global market. The company has developed a new CNC chucker called 'ORION' series, it is also developing a cost effective vertical axis turning machine.
Company has deputed its engineers to Fadal Engineering Company, USA for technical training on vertical machining centre (VMC). Company will take up manufacture of these machines in the near future. Company has been looking for a dynamic firm/ Company to represent Company's Sales/Service & after Sales activities in the domestic market.
Parent Organisation
Indian Private
Managing Director
None
Founded
1985
NSE Symbol
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AngelOne
10th July, 2024
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10th July, 2024
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What is the share price of Miven Machine Tools Ltd (Miven Machine Tools Ltd) shares?
Miven Machine Tools Ltd (Miven Machine Tools Ltd) share price as of October 14, 2024, on NSE is Rs 91.9 (NSE) and Rs 91.9 (BSE) on BSE.
Can I buy Miven Machine Tools Ltd (Miven Machine Tools Ltd) from Angel One?
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1. Direct investment: You can buy Miven Machine Tools Ltd (Miven Machine Tools Ltd) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Miven Machine Tools Ltd (Miven Machine Tools Ltd) shares.
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