Usha International Ltd ceases to be promoter of Mawana Sugars Ltd

Mawana Sugars Ltd has informed BSE that Usha International Limited (erstwhile Promoter) has transferred its majority stake in the company to Mr. Siddharth Shriram (Sole Promoter) to raise his holding in Mawana Sugars Limited to 66.48%. Accordingly, Usha International Limited has ceased to be Promoter of Mawana Sugars Limited.

The Board of Directors in its meeting held on August 13, 2013 has noted the change in the status of promoter of the Company.

Shares of Mawana Sugars Ltd was last trading in BSE at Rs.6.15, down by Rs.0.06 or 0.97%. The stock hit an intraday high of Rs.6.25 and low of Rs.6.10.

The total traded quantity was 1112 compared to 2 week average of 3487.

Source : Equity Bulls

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