Velan Hotels Ltd disposes biomass based renewable energy plant

Velan Hotels Ltd has sold / disposed of property of Biomass based Renewable energy plant land area which is non-functional and are located in Tirupur, Tamilnadu with the consent of M/s. RARE Asset Reconstruction Limited. After completion of sale of the above property, the Company retains Part Multiplex Area Land, convention Centre land and Hotel property at Tirupur, Tamilnadu. The proceeds from the sale of the above property will be utilized to settle a part of outstanding debts of the Company to RARE Asset Reconstruction Limited per terms of one-Time Settlement (OTS).

Shares of VELAN HOTELS LTD. was last trading in BSE at Rs. 6.57 as compared to the previous close of Rs. 6.33. The total number of shares traded during the day was 6867 in over 36 trades.

The stock hit an intraday high of Rs. 6.74 and intraday low of 6.45. The net turnover during the day was Rs. 44845.00.

Source : Equity Bulls

Keywords

VELANHOTELS INE548D01014 PropertySale Biomassbased RenewableEnergyPlant