The approximate consideration for transfer of the above mentioned business division is Rs. 585 million, subject to suitable adjustments at the closing of the transaction.
Following this decision, the Company will focus on building its market position in its Lead Division and pursue further synergistic opportunities in related areas.
The Company proposes to obtain the consent of its shareholders by means of a Postal Ballot.
The stock was trading at Rs.189.50, up by Rs.17.20 or 9.98%. The stock hit an intraday high of Rs.189.50 and low of Rs.188.75.
The total traded quantity was 9349 compared to 2 week average of 920.