Borax Morarji Proposes Sale of Timber Division

Borax Morarji Ltd has announced that subject to the approval to be obtained by way of Postal Ballot, the Company proposes to dispose off its Timber Division situated at Shenbagaramanputhur, Kanyakumari, Tamil Nadu on going concern / as is where is basis.

The Company shall be approaching the Shareholders for their approval by way of Postal Ballot and has appointed Mr. Nilesh A Pradhan, Practising Company Secretary, Mumbai to conduct the Postal Ballot in a fair and transparent manner.

The stock closed the day at Rs.50.25, up by Rs.1.80 or 3.46%. The stock hit an intraday high of Rs.51.80 and low of Rs.49.75. The total traded quantity was 15421 compared to 2 week average of 53072.

Source : Equity Bulls

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