JMT Auto Ltd to sell assets

The Board of Directors of JMT Auto Ltd in the meeting held through Video Conferencing today i.e. l8th January, 2021 at 4.30 p.m. decided through a resolution passed unanimously, to sell a few non-core assets of the Company comprising vacant Industrial plot, a few Residential flats and other plots of land. The total value of the asset being less than 5% of the total Net Worth of the Company as per the last Financial Year 2019-20.

Net Block of Assets as on 31.03.2020 (Rs in Lakhs) - INR 11,235/-
Value of Assets proposed to be sold (Rs in Lakhs) - INR 507/-
Percentage of Assets proposed to be sold of the Net Block of Assets - 4.52%

The proceeds of the sale are to be used mainly to reduce the debt of the Company by making repayments of loans from Bankers. The sale proceeds will be used fully for the improvement of the present condition of the Company.

Shares of JMT AUTO LTD. was last trading in BSE at Rs.3.29 as compared to the previous close of Rs. 3.29. The total number of shares traded during the day was 198120 in over 457 trades.

The stock hit an intraday high of Rs. 3.39 and intraday low of 3.13. The net turnover during the day was Rs. 628921.

Source : Equity Bulls

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