Monday , 29 November 2021
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Linde India jumps as its JV executes asset sale agreement with JSW Steel

Linde India jumps as its JV executes asset sale agreement with JSW Steel

Linde India is currently trading at Rs. 2522.05, up by 28.90 points or 1.16% from its previous closing of Rs. 2493.15 on the BSE.

The scrip opened at Rs. 2514.20 and has touched a high and low of Rs. 2664.00 and Rs. 2507.50 respectively. So far 8154 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2947.00 on 23-Sep-2021 and a 52 week low of Rs. 861.30 on 25-Nov-2020.

Last one week high and low of the scrip stood at Rs. 2664.00 and Rs. 2488.25 respectively. The current market cap of the company is Rs. 21549.19 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 11.09% and 13.91% respectively.

Linde India’s joint venture company — Bellary Oxygen Company has signed and executed the asset sale agreement with JSW Steel, in view of the expiry of the gas supply contract with JSW Steel on November 14, 2021 and has received the consideration amount of Rs 50 crore for the transaction. The joint venture company has since handed over the possession of the 855 tonnes per day Air Separation unit and other related assets to JSW Steel as of November 15, 2021 and has also signed the closing documents on November 15, 2021. As a consequence of the above, the Hold Separate Arrangement in respect of the Belloxy Divestment will come to an end.

Linde India is engaged in manufacturing of industrial gases and undertaking engineering projects.