The Board of Directors of Victory Paper and Boards India Ltd at its meeting held today - October 15th, 2018, has approved the investment proposal for setting up of textile unit at Karur as a part of diversification of the operations of the company and took note of the negotiation for the purchase of 32.73 acres of land along with factory building and infrastructure situate at S.Nos. 382/7,383/1,2,7/2,3/2,5,6/1,7/1 at Nedungur Village, Karur from M/s. PSN Educational and Charitable Trust for a consideration not exceeding Rupees. 50 Cr.
The Board decided to avail short Term Loan of Rs. 15 Crore taken from Anna Aluminium Company Pvt. Ltd.
The Board also decided to avail following credit facilities from Bank or banks as required from time to time:
Term Loan - Rs. 25 Cr, Machinery Loan - Rs. 25 Cr and Working Capital Loan - Rs. 20 Cr.
Shares of VICTORY PAPER & BOARDS (INDIA) LTD. was last trading in BSE at Rs.47 as compared to the previous close of Rs. 45.1. The total number of shares traded during the day was 1000 in over 8 trades.
The stock hit an intraday high of Rs. 47.35 and intraday low of 43.5. The net turnover during the day was Rs. 46797.