HIL board approves sale of HYSIL Business to Calderys India Refractories

Board has approved the sale and transfer of the company’s calcium silicate insulation products division operated under the brand HYSIL to Calderys India Refractories through a slump sale arrangement on a going concern basis.

Jan 17, 2020 05:01 IST India Infoline News Service

HIL in its filing said that the board has approved the sale and transfer of the company’s calcium silicate insulation products division operated under the brand HYSIL to Calderys India Refractories through a slump sale arrangement on a going concern basis.

Further, authorised officials of the company to finalize the terms and conditions of the transfer of the HYSIL Business to Calderys India Refractories through a slump sale on a going concern basis, and to execute a business transfer agreement (Agreement) with Calderys India Refractories to capture such terms and conditions.

Hil Ltd is currently trading at Rs1,424.45, up by Rs13.45 or 0.95% from its previous closing of Rs1,411 on the BSE.

The scrip opened at Rs1,417.30 and has touched a high and low of Rs1,430.50 and Rs1,417.30 respectively.

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