Suncare Traders Limited to demerge investment division to Madhav Infra Projects Ltd

The Board of Directors of Suncare Traders Limited, in their meeting held on March 05, 2021, at the Registered Office of the Company 7, Shree Shakti Estate, Behind Milan Complex, Sarkhej- Sanand Cross Road, Sarkhej, Ahmedabad - 382210 Gujarat, which was commenced at 01:30 P.M. and concluded at 04:16 P.M. have considered, approved & taken on record the cancellation of the resolution passed in the Board Meeting dated January 18, 2021 for the Demerger of Investment Division ('Demerged Undertaking') of our Company i.e. Suncare Traders Limited ('Demerged Company' or 'STL') and vesting thereof in Madhav Infra Projects Limited ('Resulting Company' or 'MIPL').

Shares of Suncare Traders Ltd was last trading in BSE at Rs.0.71 as compared to the previous close of Rs. 0.7. The total number of shares traded during the day was 1805240 in over 473 trades.

The stock hit an intraday high of Rs. 0.71 and intraday low of 0.7. The net turnover during the day was Rs. 1274443.

Source : Equity Bulls

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