Standard Industries Ltd to explore sale of land

The Board of Directors of Standard Industries Ltd at their meeting held today, i.e. 26th February, 2021 has accorded its in-principle approval to explore and evaluate sale / transfer / disposal of Company's undertaking situated at Plot No.4 admeasuring 62 Acres and 10 Gunthas (equivalent to 251,934.308 square metres) lying, being and situate at Trans Thane Creek Industrial area, Villages Ghansoli and Savali, Thane, Navi Mumbai - 400 710, subject to approval of the members of the Company or such other approvals as may be required under the Companies Act, 2013 and other applicable laws, which shall be in the best interest of the Company and its stakeholders.

In this regard, the Board of Directors has also approved the draft notice of Extra-ordinary General Meeting to be held on 20th March, 2021 at 3.00 p.m. through video conferencing / other audio visual means, for seeking approval of members for sale of aforementioned undertaking under applicable laws.

Shares of STANDARD INDUSTRIES LTD. was last trading in BSE at Rs.12.7 as compared to the previous close of Rs. 12.1. The total number of shares traded during the day was 31176 in over 27 trades.

The stock hit an intraday high of Rs. 12.7 and intraday low of 11.57. The net turnover during the day was Rs. 393095.

Source : Equity Bulls

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