SPIC shines on receiving nod to sell plant and machinery of Enzyme unit for Rs 75 lakhs

13 Dec 2012

Southern Petrochemicals Industries Corporation is currently trading at Rs. 16.30, up by 0.40 points or 2.52% from its previous closing of Rs. 15.90 on the BSE.

The scrip opened at Rs. 16.80 and has touched a high and low of Rs. 16.80 and Rs. 16.10 respectively. So far 58,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.10 on 08-Feb-2012 and a 52 week low of Rs. 12.75 on 28-Aug-2012.

Last one week high and low of the scrip stood at Rs. 16.95 and Rs. 15.50 respectively. The current market cap of the company is Rs. 143.00 crore.

The promoters holding in the company stood at 41.13% while Institutions and Non-Institutions held 5.28% and 43.25% respectively.

Southern Petrochemicals Industries Corporation (SPIC) has received an approval for the sale of assets used in Enzyme unit predominantly plant and machinery of the company for a consideration of Rs 75 lakhs. The board at its meeting held on December 12, 2012 has approved for the same.

Southern Petrochemical Industry Corporation since its founding has been providing product and services that feed, nourish, and protect the agriculture and rural ecosystem. The company is now a well diversified one with area of businesses spreading from fertilizers to pharma.

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