Shivalik Bimetal Controls Ltd to acquire industrial land and building at Solan

The Board of Directors ("the Board") of Shivalik Bimetal Controls Limited at their Meeting held today have, considered and approved the proposal for acquisition of Industrial Land and Building at Solan, Himachal Pradesh from M/s Kulja Industries Limited.

The Company has considered and approved the proposal for acquisition of Industrial Building from M/s Kulja Industries Limited (constructed area 2043.21 sq mtrs) along with leasehold rights of land measuring 2236 square meters in aggregate, located at Plot No. 1, Industrial Estate, Chambaghat, District Solan, Himachal Pradesh - 173213.

The total cash consideration for this transaction of acquisition of land & Building is Rs. 6.50 Cr approx. excluding applicable fee, taxes and stamp duty.

This transaction will enable the company in its future expansion activities.

Shares of SHIVALIK BIMETAL CONTROLS LTD. was last trading in BSE at Rs. 576.75 as compared to the previous close of Rs. 577.65. The total number of shares traded during the day was 11535 in over 871 trades.

The stock hit an intraday high of Rs. 583.25 and intraday low of 572.15. The net turnover during the day was Rs. 6658819.00.

Source : Equity Bulls

Keywords

SHIVALIKBIMETALCONTROLS INE386D01027 IndustrialLand Acquisition