Bajaj Hindusthan Sugar spurts 3%

Bajaj Hindusthan Sugar said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE filing.

Jan 03, 2017 12:01 IST India Infoline News Service

Bajaj Hindusthan Sugar Ltd is currently trading at Rs 15.23, up by Rs 0.45 or 3.04% from its previous closing of Rs 14.78 on the BSE. The company said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE Filing.

The company will seek shareholders approval for proposed sale of its co-generation power business to group firm Lalitpur Power Generation Co for about Rs 1,800 crore.

The scrip opened at Rs 15 and has touched a high and low of Rs 15.39 and Rs 15 respectively. So far 3306669 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1675.4 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 24.2 on 13-Jun-2016 and a 52 week low of Rs 12.65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 14.9 and Rs 12.9 respectively.

The promoters holding in the company stood at 26.02 % while Institutions and Non-Institutions held 49.92 % and 23.91 % respectively.

The stock is currently trading above its 200 DMA.

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