Kirloskar Electric Company to sell its land at Hubbali for Rs. 100 crore

The Board of Directors of Kirloskar Electric Company Limited have accorded its approval for the sale of Company's non-core asset situated at Hubbali i.e., immovable property bearing Sy. No. 88 admeasuring 32 acres situated at Rayanal Village, Hubbali Taluk, Dharwad Dist, Karnataka on such terms and conditions as set out in the Agreement to sell.

The total Consideration for the proposed sale would be Rs. 100 Crore.

Marvel Properties & Asmakam Infra Projects Private Limited is the proposed purchaser for the above property.

Shares of Kirloskar Electric Company Limited was last trading in BSE at Rs. 24.20 as compared to the previous close of Rs. 23.05. The total number of shares traded during the day was 135776 in over 518 trades.

The stock hit an intraday high of Rs. 24.20 and intraday low of 23.35. The net turnover during the day was Rs. 3265008.00.

Source : Equity Bulls

Keywords

KirloskarElectricCompany INE134B01017 KECL NonCoreAsset ImmovableProperty