Sambandam Spinning Mills Ltd disposes non-core asset

After obtaining necessary approvals, Sambandam Spinning Mills Ltd has disposed left out balance of its non-core asset - unusable and non productive vacant land (land measuring 3.70 acres) situated at Udumalpet district, TamilNadu.

1.7 acres vacant unusable land was sold to P.Dhanasekar - Resident of Udumalpet district and 2.0 acre vacant unusable land was sold to Mrs Amirthavalli W/o Chandrasekar - Resident of D.V. Patnam village in Udumalpet district.

The total consideration received was Rs. 7.37 lakhs (Rupees seven lakhs and thirty seven thousand only)

The land was purchased long ago for windmill power project, but it is not used for such project and it became vacant unusable land, a non-core asset with nil revenue generation.

Shares of SAMBANDAM SPINNING MILLS LTD. was last trading in BSE at Rs. 220.70 as compared to the previous close of Rs. 217.90. The total number of shares traded during the day was 1380 in over 83 trades.

The stock hit an intraday high of Rs. 224.00 and intraday low of 214.05. The net turnover during the day was Rs. 306437.00.

Source : Equity Bulls

Keywords

SAMBANDAMSPINNINGMILLSLTD INE304D01012 Textiles NonCoreAsset LandSale