Deepak Nitrite Ltd approves proposed sale of Land situated at Pune

The Board of Directors of Deepak Nitrite Ltd at its meeting held on June 23, 2014, has approved the sale of parcel of land admeasuring 12,141 sq. mtrs at Sinhagad Road, Pune, Maharashtra, subject to receipt of all requisite approvals and permissions, based on the valuation report of renowned Independent professional firm.

The proposal to sell the said land is with a view to monetize the value of its unutilized assets and improve shareholders value by freeing up capital to facilitate growth.

The Company will continue to make additional disclosures as and when definitive material events in this process takes place.

Shares of DEEPAK NITRITE LTD. was last trading in BSE at Rs.99.8 as compared to the previous close of Rs. 96.6. The total number of shares traded during the day was 386706 in over 7741 trades.

The stock hit an intraday high of Rs. 106 and intraday low of 96.6. The net turnover during the day was Rs. 39231339.

Source : Equity Bulls

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