Warren Tea Ltd to sell tea estate to Dhunseri Tea and Industries Ltd

Warren Tea Limited has decided to dispose of one of its tea estate namely Balijan North Tea Estate located at Post Chabua, Dist. Dibrugarh, Assam.

For the said purpose the Company has entered into a Memorandum of Understanding with Dhunseri Tea & Industries Limited.

This monetization process of the asset of the Company is to turn around the financial prowess, reduction in finance cost, availability of more working capital, profit earning capability of the Company, to modernize and to upgrade the remaining business assets.

The gross consideration is Rs 27 Crores.

Shares of Dhunseri Tea & Industries Limited was last trading in BSE at Rs. 248.95 as compared to the previous close of Rs. 254.60. The total number of shares traded during the day was 1057 in over 87 trades.

The stock hit an intraday high of Rs. 257.35 and intraday low of 246.00. The net turnover during the day was Rs. 267368.00.

Shares of WARREN TEA LTD. was last trading in BSE at Rs. 82.40 as compared to the previous close of Rs. 81.85. The total number of shares traded during the day was 3236 in over 62 trades.

The stock hit an intraday high of Rs. 84.00 and intraday low of 80.30. The net turnover during the day was Rs. 265729.00.

Source : Equity Bulls

Keywords

DhunseriTeaandIndustries INE341R01014 DTIL WARRENTEA INE712A01012 TeaEstate Sale