Announced Thu, 16 Jul · 13:08 IST
Board approves sale of land for Rs 300 lakhs
Strategic Transactions View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.4%1-day move
₹12.75
prior close
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base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-3.4-4.2-4.5-3.4-3.1-1.9————
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AI summary
Board of Rasi Electrodes approved selling 2.277 acres of vacant land in Manjankaranai Village, Tiruvallur District, Tamilnadu for Rs 300 lakhs to an unrelated buyer. Shareholders had earlier approved the sale through postal ballot under Section 180(1)(a) of the Companies Act. The Audit Committee had also recommended the deal.
Likely market impact
Modest cash inflow of Rs 300 lakhs from non-core land sale. Likely neutral to slightly positive for the stock.