Rossell India Limited to close down Aerotech Services Division

At the Meeting of the Board of Directors of Rossell India Limited held on March 11, 2021, the Board discussed the overall performance of the Aerotech Services Division (the said Division) of the Company. After discussion, it was felt that in view of the expiry of the existing agreements, entered into by the said Division, by 31st March, 2021, the said Division of the Company may be discontinued and closed down. The closure of the said Division is not likely to have any significant impact on the Profitability of the Company.

After Closure of the said Division, the Company shall have the two main business segments as under:

1. Rossell Tea - Cultivation, Manufacture and sale of Tea.

2. Rossell Techsys - Engineering and Manufacturing in Aerospace and Defense.

Shares of ROSSELL INDIA LTD. was last trading in BSE at Rs.119.2 as compared to the previous close of Rs. 120.9. The total number of shares traded during the day was 10106 in over 304 trades.

The stock hit an intraday high of Rs. 126 and intraday low of 117.45. The net turnover during the day was Rs. 1238622.

Source : Equity Bulls

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