B & A Limited to acquire Moheema Tea Estate at Golaghat, Assam

B & A Limited has executed today a Purchase Agreement with Dhaneswari Wood Products Limited to acquire its Moheema Tea Estate situated at Golaghat, Assam. The process of acquisition is expected to be completed soon in terms of the Agreement as stated above.

"Moheema Tea Estate" is a 150 years old garden located at a stretch of approximately 27 km from Jorhat City and 17 km from Golaghat, Assam. The earlier ownership of the Estate was vested with Shaw Wallace, Saharia Group and Alchemist Group from time to time which later in 2015 was taken by the current owners Dhaneswari Wood Product Limited (Newar Group). The garden is planted with best Tea Bushes (Jaat) TV1, TV23, TV17 and TS520 which provide the best quality of tea leafs in the nearby district. The Moheema Tea Estate is one of the finest tea leaf production estate since 1971. Moheema Tea Estate is having a total grant area of land 576.74 hectares more or less. The cumulative area under plantation is 314.92 hectares more or less, along with nursery, Factory Shed and Building, Bungalows and Plant & Machineries situated thereat.

Shares of B & A LTD. was last trading in BSE at Rs. 356.60 as compared to the previous close of Rs. 325.70. The total number of shares traded during the day was 4216 in over 71 trades.

The stock hit an intraday high of Rs. 360.00 and intraday low of 315.00. The net turnover during the day was Rs. 1426621.00.

Source : Equity Bulls

Keywords

BandA INE489D01011 MoheemaTeaEstate Acquisition Golaghat Assam