NITCO Ltd sells stake in subsidiary

On August 29,2020 NITCO Ltd has entered into an agreement for the sale of entire shareholding held by the company in New Vardhman Vitrified Private Limited (NVVPL). Accordingly, NVVPL shall cease to be subsidiary of the company from the date of completion of sale.

The Consideration received from such sale/disposal is Rs. 2,75,00,000 (Rupees Two Crore and Seventy Five Lakhs Only).

Shares of NITCO LTD. was last trading in BSE at Rs.20.4 as compared to the previous close of Rs. 20.45. The total number of shares traded during the day was 4417 in over 75 trades.

The stock hit an intraday high of Rs. 20.7 and intraday low of 20.2. The net turnover during the day was Rs. 89735.

Source : Equity Bulls

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