Darjeeling Industriies Ltd's arm Novva Defence Iinds Ltd to acquire 51% stake in SJ Construction

Darjeeling Industriies Limited's (Formerly known as Darjeeling Ropeway Company Limited)(DARJEELING / Script Code: 539770) subsidiary Company M/s. Novva Defence Iinds Limited, has entered a Memorandum of Understanding (MoU) with SJ Construction (Partnership Firm) to acquire 51% of the ownership stake SJ Construction (Partnership Firm)

The Target entity is engaged in the business of Pipeline Infrastructure Specialities like Gas, Petroleum and Aviation Fuel.

This collaboration opens up new market opportunities, allows us to leverage SJ Construction's proven expertise, and enables the creation of synergies that will drive growth and long-term value. By diversifying our business portfolio, we aim to strengthen our position in this fast-evolving sector and extend our reach to a broader customer base.

Shares of Darjeeling Industriies Ltd was last trading in BSE at Rs. 32.12 as compared to the previous close of Rs. 32.40. The total number of shares traded during the day was 1713 in over 19 trades.

The stock hit an intraday high of Rs. 32.40 and intraday low of 31.00. The net turnover during the day was Rs. 54898.00.

Source : Equity Bulls

Keywords

DarjeelingIndustriies INE830S01014 NovvaDefenceIinds MoU SJConstruction StakeAcquisition