STL Global touches the roof on plans to sell land and building

15 Feb 2012

STL Global is currently locked in its upper circuit limit of Rs. 4.18, up by 0.19 points or 4.76% from its previous closing of Rs. 3.99 on the BSE.

The scrip opened at Rs. 3.99 and has touched a high and low of Rs. 4.18 and Rs. 3.99 respectively.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 6.37 on 20-Apr-2011 and a 52 week low of Rs. 2.65 on 19-Oct-2011.

Last one week high and low of the scrip stood at Rs. 4.18 and Rs. 3.62 respectively. The current market cap of the company is Rs. 11.48 crore.

The promoters holding in the company stood at 63.57% while Institutions and Non-Institutions held 1.42% and 35.01% respectively.

STL Global has received an approval for sale of land and building of the company situated at sector-6, Faridabad, Haryana to Glen Appliances for an amount of Rs 49.08 crore. The board at its meeting held on February 14, 2012 has approved for the same.

The sale is in accordance with the terms of CDR Package approved by CDR Cell and as per the directions received from Asset Sale Committee (ASC) constituted by the CDR Cell.

STL Global, formerly known as Shivalik Global, is engaged in the manufacturing of various types of processed fabrics and fashion garments. It is placed in the select club of textile export oriented industries in the country. The company undertook the responsibility to manage the composite set up with its existing set up already functional and some important future addition plan to make it the best total vertically integrated plant in the region.

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