Board approves sale of 2.28-acre land for Rs 3 crore
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rasi Electrodes' Board approved the sale of 2.28 acres of unencumbered vacant land at Manjankaranai Village, Tiruvallur District, Tamil Nadu to an unrelated party for Rs 300 lakhs. Shareholders had already given consent through postal ballot under Section 180(1)(a) of the Companies Act, and the Audit Committee recommended the deal. The sale value is around 7.7 percent of the company's net worth of Rs 3,885.24 lakhs as on 31 March 2026. Rasi Electrodes manufactures welding electrodes and CO2 welding wire.
Non-core land sale adds Rs 3 crore to cash reserves. Small relative to net worth, so limited impact on stock price but modestly improves asset efficiency.