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National General Industries spurts 5% after selling steel casting unit to GCM

The sale decision was approved by shareholders through resolution passed on January 1, 2021 by Postal Ballot.

January 22, 2021 1:08 IST | India Infoline News Service
steel sheet
National General Industries Limited saw its stocks gain over 5% on Friday, at around 1:17 PM to Rs28.35 apiece on the BSE.

A day earlier, the company intimated the exchanges that it has sold its steel casting unit situated at Alwar, Rajasthan together with all tangible assets in relation to the said unit on an "as is where is" basis.

The purchase has been made by Gayatri Construction Machinery (GCM), District Alwar, Bhiwandi.

This has been done in accordance with the approval accorded by shareholders through resolution passed on January 1, 2021 by postal ballot, the company said in the filing.

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