Diamines and Chemicals Ltd to sell wind power projects

The Board of Directors of Diamines and Chemicals Limited at its meeting held today has considered and approved sale of assets / undertaking i.e 2 wind power projects/windmills, K 495 & K 436 (1250 KW each) situated at Gut No. 97 Village Bhone, Taluka Nandurbar, District Nandurbar, Maharashtra and Gut No. a6/p of Village chakala, Taluka Nandurbar, District Nandurbar, Maharashtra respectively, on slump sale basis to M/s siva Electric Generation private Limited (sEGpL) w.e.f. January O1,2021.

The Turnover of Business undertaking for the year ended March 31, 2021 was Rs. 59.61 Lakhs representing 0.95% of total turnover of the Company on a standalone basis.

The Net worth of the Business undertaking proposed to be transferred for the year ended March 31, 2021 was at Rs. 316.61 lakhs representing 3.72% of the net worth of the Company on a standalone basis after considering impairment provision of Rs. 118.70 Lakhs on power Generation segment.

The transfer of Business Undertaking will be done for a lumpsum consideration Rs. 220 Lakhs.

Shares of DIAMINES & CHEMICALS LTD. was last trading in BSE at Rs. 250.05 as compared to the previous close of Rs. 250.70. The total number of shares traded during the day was 3404 in over 64 trades.

The stock hit an intraday high of Rs. 258.00 and intraday low of 244.05. The net turnover during the day was Rs. 851377.00.

Source : Equity Bulls

Keywords

DIAMINESandCHEMICALS INE591D01014 AssetSale WindPowerProjects WindMills