EID Parry board approves sale of the plant & equipment of the Sugar Factory at Pettavaithalai, Tamil Nadu; Stock up 1%

The company also approved the investment of Rs19cr in the share capital of the Joint Venture Company - Algavista Greentech.

Oct 05, 2021 12:10 IST India Infoline News Service

EID Parry India Limited board of Directors has approved the Sale of the Plant & Equipment of the Sugar Factory at Pettavaithalai in Tamil Nadu, which is not in operation.

The company’s Board of Directors in a meeting on Monday also approved the investment of Rs19cr in the share capital of the Joint Venture Company - Algavista Greentech Pvt Ltd.

It also appointed Sridharan Rangarajan as an Additional Director of the company with effect from October 4, 2021. The company also informed that V. Ravichandran stepped down as Chairman and as a Director of the Company effective close of business hours of October 4, 2021.

The Board elected MM Venkatachalam, Non-Executive Director as Chairman of the Board of Directors with effect from October 5, 2021.

At around 12.18 pm, EID Parry (India) Ltd was trading at Rs440.15 per piece up by Rs4.7 or 1.08% from its previous closing of Rs435.45 per piece on the BSE.

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