Mawana Sugars rises on plan to dispose-off its operating unit at Uttar Pradesh

Mawana Sugars is currently trading at Rs. 39.40, up by 0.55 points or 1.42% from its previous closing of Rs. 38.85 on the BSE.

The scrip opened at Rs. 39.50 and has touched a high and low of Rs. 40.15 and Rs. 38.00 respectively. So far 70,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 40.50 on 10-May-2016 and a 52 week low of Rs. 5.69 on 20-May-2015.

Last one week high and low of the scrip stood at Rs. 40.50 and Rs. 29.25 respectively. The current market cap of the company is Rs. 155.10 crore.

The promoters holding in the company stood at 69.88% while Institutions and Non-Institutions held 1.96% and 28.15% respectively.

Mawana Sugars has received an approval to explore the possibility of disposing of its operating unit located at Muzaffarnagar in state of Uttar Pradesh to meet its obligation for discharge its liability towards farmers and lenders.

The board of directors at its meeting held on May 10, 2016 has approved for the same. The board also approved to explore the possibility of business restructure through scheme of arrangement.

Mawana Sugars has been engaged in the business of manufacture and selling of chemicals, sugar and edible oils.