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Nava Bharat Ventures surges on entering into agreement for sale of Sugar Division

Nava Bharat Ventures surges on entering into agreement for sale of Sugar Division

Nava Bharat Ventures is currently trading at Rs. 87.00, up by 2.25 points or 2.65% from its previous closing of Rs. 84.75 on the BSE.

The scrip opened at Rs. 86.75 and has touched a high and low of Rs. 89.15 and Rs. 86.20 respectively. So far 57267 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 85.90 on 03-May-2021 and a 52 week low of Rs. 33.60 on 19-May-2020.

Last one week high and low of the scrip stood at Rs. 89.15 and Rs. 71.45 respectively. The current market cap of the company is Rs. 1264.60 crore.

The promoters holding in the company stood at 45.53%, while Institutions and Non-Institutions held 2.54% and 51.93% respectively.

Nava Bharat Ventures has entered into a binding agreement for the sale of plant and equipment, excluding land, pertaining to Sugar Division. The company had earlier announced regarding cessation of operations at the Sugar Division of the Company situated at Samalkot, East Godavari District, Andhra Pradesh.

Nava Bharat Ventures operates in the business verticals of power generation, mining, ferro alloys and agri-business with multi-national operations spread over India, South East Asia and Africa.

 

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