Prakash Steelage Ltd board approves sale of shares of Tubacex Prakash India Pvt Ltd

A meeting of the Board of Directors of Prakash Steelage Ltd is scheduled to be held on Wednesday, March 10, 2021 at Mumbai to consider and approve the sale of Shares of Tubacex Prakash (India) Private Limited and related matters and to pass the enabling Resolutions.

The Board discussed and approved in principle, subject to the approval of Members, the transaction of sale of 32.47 Lakhs shares of Tubacex Prakash India Private Limited to Tubacex S.A Spain for a lumpsum consideration of Rs. 50.43 Crores and decided to hold another Board meeting to approve the modalities of completing the said transaction on 10th March, 2021.

Shares of PRAKASH STEELAGE LTD. was last trading in BSE at Rs.0.83 as compared to the previous close of Rs. 0.82. The total number of shares traded during the day was 64752 in over 190 trades.

The stock hit an intraday high of Rs. 0.84 and intraday low of 0.79. The net turnover during the day was Rs. 53294.

Source : Equity Bulls

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