Rana Sugars stock rises over 4% after the divestment of 10% stake each in two biofuels firms

Both the companies have not commenced any business operation/ activities since their incorporation.

Sep 15, 2021 11:09 IST India Infoline News Service

Rana Sugars stock was on a bullish tone on Wednesday after the company announced divestment of 10% stake each in Buttar Biofuels and Karimganj Biofuels by the way of transfer.

The divestment transaction was completed on September 14, 2021, and was for an aggregate of Rs10,000 each.

Both the companies have not commenced any business operation/ activities since their incorporation.

At around 11.47 AM, Rana Sugars was trading at Rs27.50  per piece up 4.4% on Sensex. The stock has touched an intraday high and low of Rs27.65 per piece and Rs27.30 per piece respectively. 

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