Nagarjuna Fertilizers to off load investment in Jaiprakash Engineering; stock jumps 3%

The company board approved to dispose of the investment in the subsidiary company in a board meeting.

Jan 01, 2021 09:01 IST India Infoline News Service

Nagarjuna Fertilizers and Chemicals Limited will dispose of the investment held in its subsidiary Jaiprakash Engineering and Steel Company Limited.

“The members at the 14th Annual General Meeting of the Company held on December 30, 2020, had approved to sell, transfer, lease and/or otherwise dispose of the investment held in Jaiprakash Engineering and Steel Company Limited, subsidiary company,” company informed the exchanges on Thursday.

At around 9.42 am, Nagarjuna Fertilizers & Chemicals Ltd was trading at Rs5.28 per piece up by Rs0.14 or 2.72% from its previous closing of Rs5.14 per piece on the BSE.

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