Rajasthan Cylinders and Containers Ltd divests LPG Gas FIlling Plant

Rajasthan Cylinders and Containers Limited ('RCCL') has disposed its one insignificant Segment i.e. 'LPG Gas Filling Plant' to M/s Alliance Projects & Engineering Services Pvt. Ltd.

The said segment was non-core additional activity of the Company given on Job work Basis to third party. Segment of LPG Gas filling Plant was not viable to operate and consequently due to adverse conditions to further operate, the Plant and Machinery was disposed as Scrap.

Further, the segment of Valve manufacturing is also affected due to non-competitive price available in the market. Segment of Cylinder Plant is well equipped and running regularly but the COVID-19 situation has impacted the overall performance of the said segments.

Shares of Rajasthan Cylinders & Containers Limited was last trading in BSE at Rs. 18.05 as compared to the previous close of Rs. 19. The total number of shares traded during the day was 5 in over 1 trades.

The stock hit an intraday high of Rs. 18.05 and intraday low of 18.05. The net turnover during the day was Rs. 90.

Source : Equity Bulls

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