IVP Sells Company's Industrial Ceramics Division

IVP Ltd has announced that the Company has entered into an in principle Business Purchase Agreement with Carborundurn Universal Ltd, a Company in the Murugappa Group based at Chennai, for the sale of its said division as a going concern subject to fulfillment of statutory and other formalities. The deal is expected to be completed shortly.

The Ceramic Division of the Company with the manufacturing plant located at Aurangabad, manufactures and sells a range of High Alumina Engineered Ceramic products like Ignitors, Seals, Thread Guides, Nozzles etc.

The Stock closed the day at Rs.26.50, up by Rs.0.15 or 0.57%. The stock hit an intraday high of Rs.29 and low of Rs.26. The total traded quantity was 6807 compared to 2 week average of 11337.

Source : Equity Bulls

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