Joonktollee Tea and Industries Ltd divests stake in subsidiary

Pursuant to the approval of the members of Joonktollee Tea and Industries Ltd obtained through Postal Ballot for disposal of investments in M/s. Pranav Infradev Company Pvt. Ltd. (PICPL), a wholly-owned material subsidiary of the Company in one or more tranches, the Company has sold its 47.10% shareholding in PICPL for a consideration of Rs. 19.55 crores to Promoter / Promoter Group / other Related Parties.

M/s. Pranav Infradev Company Pvt. Ltd. (PICPL) continues to be a Subsidiary of the Company.

Shares of Joonktollee Tea & Industries Ltd was last trading in BSE at Rs. 78.80 as compared to the previous close of Rs. 80.30. The total number of shares traded during the day was 1630 in over 34 trades.

The stock hit an intraday high of Rs. 80.90 and intraday low of 78.50. The net turnover during the day was Rs. 129223.00.

Source : Equity Bulls

Keywords

JoonktolleeTeaandIndustries INE574G01013 StakeSale PranavInfradevCompany