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Nectar Lifesciences stock ends 4.5% down after board nods sale of various assets to repay bank loans

The proceeds from sales of these assets will be used for repayment of Bank Loans.

July 26, 2021 5:02 IST | India Infoline News Service
Nectar Lifesciences Ltd
Nectar Lifesciences stock was under pressure on Monday after the company's board gave in-principal approval on the sale of various assets. The proceeds from sales of these assets will be used for repayment of Bank Loans.

In the non-core assets category, the board approved the sale of an office building in Mumbai.

In the core assets that are unproductive or less product, the board approved the following:
  • Land and Building situated at Narbada Industries, Jammu (a leasehold property and a unit of the Company). The Company proposes to either sell the plant, machinery and miscellaneous fixed assets if able to find a suitable buyer or shift the same to its main unit at Derabassi, Punjab for use there.
  • Empty Hard Gelatin Capsules Unit (Baddi, Himachal Pradesh) including land, building, plant & machinery etc.
  • Land and building at Basauli, Punjab wherein Guargum and Power Plant are set up.
On Sensex, Nectar closed at Rs38.30 per piece down by 4.5%. 

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