The Board of Directors of JIK Industries Ltd at its meeting held on February 14, 2015, has considered and approved the modernization of its manufacturing operations.
As a part of modernizing its manufacturing operations, the Company has decided to give greater focus on better margin cold room activities and reduce its dependence on hot room activities and will carry out necessary changes to implement the same.
The Board approved restructuring of business activities and also approved the provision for diminution in value of long term investment is made as there is a decline, other than temporary, in the value of investments and the carrying amount is reduced to recognize the decline. The resultant investments are carried at Book Value and at Face value in case of investment in subsidiaries as there is no foreseeable improvement in near future.
Shares of JIK INDUSTRIES LTD. was last trading in BSE at Rs.1.03 as compared to the previous close of Rs. 1.04. The total number of shares traded during the day was 30 in over 4 trades.
The stock hit an intraday high of Rs. 1.03 and intraday low of 0.86. The net turnover during the day was Rs. 29.