Rasi Electrodes Ltd to sell land

The Board of Directors of Rasi Electrodes Ltd have approved the proposal to sell or otherwise dispose off unencumbered landed property belonging to and registered in the name of the Company, comprising of vacant land measuring 88 Cents in survey number 20513, in patta number 212,47 cents in new survey number 20514A, in patta no.692, 45.7 cents in new survey number 20413A, in patta no.692, 47 cents in new survey number, bet 204/2, in patta number 692, totally admeasuring an extent of 227.7 cents (or 2.277 acres), situated at Manjankaranai Village, Uthukottai Taluk, Tiruvallur District, Tamilnadu, India, to an identified purchaser who are not related parties for a total consideration of Rs.300 lakhs (rupees three hundred lakhs) only, which is realizable as per the terms and conditions agreed upon and mentioned in the Agreement for Sale to be entered into for this purpose. The Board took on record the consent accorded by the shareholders through Postal Ballot and Electronic Voting u/s 180(1)(a) of the Companies Aci, 2013, and the evaluation and recommendation of the Audit Committee of the Board held earlier in the day and also its own evaluation.

Shares of RASI ELECTRODES LTD. was last trading in BSE at Rs. 12.50 as compared to the previous close of Rs. 12.59. The total number of shares traded during the day was 35975 in over 82 trades.

The stock hit an intraday high of Rs. 12.99 and intraday low of 12.44. The net turnover during the day was Rs. 457275.00.

Source : Equity Bulls

Keywords

RASIELECTRODES INE822D01021 LandSale