Delta Manufacturing's subsidiary Rhine Estates sells land for Rs10.92cr

27 Jan 2022 , 11:59 AM

Delta Manufacturing Ltd has informed that Rhine Estates Limited, (formerly known as Magdev Limited), a wholly owned material subsidiary of the Company, incorporated in England, has completed the sale of freehold land situated at Unit 23 Ash Industrial Estate, Kembrey Park, Swindon SN2 8UN to Servants Fellowship International on January 24, 2022, for an amount of GBP 1.1 million (approx. Rs10.92cr) plus VAT.

On Thursday at around 11:58 AM, the company’s stock was trading at Rs89.55 per piece lower by 0.72% on Sensex against previous closing of Rs90.20 per piece.

Delta Manufacturing manufactures hard ferrite magnets. The Company produces magnets for loudspeakers, automobiles, entertainment electronics, information and communication applications, power supply products, and medical appliances. Delta Manufacturing serves customers in India.