The Board of Dynamatic Technologies Ltd at its meeting held today has approved the plan for the future of Auto divisions of the Company and has directed the management to execute the following plan.
Divestment of the following assets along with businesses:
* JKM-Auto division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu;
* Aluminium Foundry division situated at Irrangattukottai, Sriperumbudur, Tamil Nadu;
* Wind farm property situated at Coimbatore, Tamil Nadu.
Simultaneously, take steps to ensure that JKM Ferrotech Limited becomes a 100% subsidiary of JKM Erla Automotive Limited ('JEAL'), which is also the holding company of Eisenwerk Erla, GmbH.
Shares of DYNAMATIC TECHNOLOGIES LTD.-$ was last trading in BSE at Rs.1974 as compared to the previous close of Rs. 1903.85. The total number of shares traded during the day was 2888 in over 532 trades.
The stock hit an intraday high of Rs. 2042 and intraday low of 1876.15. The net turnover during the day was Rs. 5772038.