Ruchi Infrastructure Ltd to dispose petroleum terminal at Cochin port

Ruchi Infrastructure Ltd has announced regarding execution of Business Transfer Agreement (BTA) with Konkan Storage Systems (Kochi) Private Limited (Buyer) for disposal of business undertaking of the Company (comprising of petroleum terminal at Cochin port along with its assets/liabilities). The Company has handed over the possession of assets to buyer and has also received in principle approval from the Cochin Trust Port Authority, however, a tri-partite agreement between buyer, seller and port trust is under process till 31st December, 2023. Such tri-partite agreement is expected to be executed before 31st January, 2024. The expected date of completion of sale/disposal as per above referred BTA may accordingly be noted as 31st January, 2024.

Shares of Ruchi Infrastructure Limited was last trading in BSE at Rs. 11.80 as compared to the previous close of Rs. 11.63. The total number of shares traded during the day was 21100 in over 70 trades.

The stock hit an intraday high of Rs. 11.80 and intraday low of 11.62. The net turnover during the day was Rs. 246972.00.

Source : Equity Bulls

Keywords

RuchiInfrastructure INE413B01023 AssetSale CochinPort PetroleumTerminal