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Sukhjit Starch rises on plan to disinvest major part in Sukhjit Finance

12 Nov 2014 Evaluate

Sukhjit Starch & Chemicals is currently trading at Rs. 300.80, up by 1.10 points or 0.37% from its previous closing of Rs. 299.70 on the BSE.

The scrip opened at Rs. 300.00 and has touched a high and low of Rs. 303.00 and Rs. 296.00 respectively. So far 1248 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 325.00 on 10-Nov-2014 and a 52 week low of Rs. 146.20 on 18-Nov-2013.

Last one week high and low of the scrip stood at Rs. 325.00 and Rs. 295.00 respectively. The current market cap of the company is Rs. 219.18 crore.

The promoters holding in the company stood at 60.28% while Institutions and Non-Institutions held 0.38% and 39.34% respectively.

Sukhjit Starch & Chemicals has received an approval to disinvest a major part of its shareholding in Sukhjit Finance - presently a subsidiary company. The board of directors at their meeting has approved for the same.

Sukhjit Finance has been running out of operations for the last many years and will cease to be a subsidiary of the company after the necessary disinvestment.

Sukhjit Finance is not a material subsidiary company as the value of investment stands at Rs 2.63 crore in the latest Balance Sheet of the company on March 31, 2014 against shareholder funds of Rs 181.27 crore on that date.

 

Sukhjit Starch &Chem Share Price

175.65 -4.35 (-2.42%)
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