Rajshree Sugars & Chemicals inks share purchase agreement to sell its Trident Sugars

India Infoline News Service | Mumbai | November 27, 2016 14:16 IST

As per the said agreement, the prospective buyer is expected to close the sale transaction by March 31, 2017.

Rajshree Sugars & Chemicals Ltd has now informed BSE that the company has now entered into a Share Purchase Agreement with the prospective buyer, for the sale of the wholly-owned subsidiary company Trident Sugars Limited, having the sugar factory at Telangana.

As per the said agreement, the prospective buyer is expected to close the sale transaction by March 31, 2017.

Stock Commentary:

Rajshree Sugars & Chemicals Ltd ended at Rs 57.25, up by Rs 0.35 or 0.62% from its previous closing of Rs 56.9 on the BSE.

The scrip opened at Rs 57.9 and touched a high and low of Rs 58.35 and Rs 56.65 respectively. A total of 39709(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 160.55 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 89.75 on 16-Jun-2016 and a 52 week low of Rs 19.7 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 59 and Rs 50.6 respectively.

The promoters holding in the company stood at 47.83 % while Institutions and Non-Institutions held 0.04 % and 52.13 % respectively.

The stock traded below its 100 DMA.

***Note: This is a NSE Chart

 

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