Warren Tea Limited has decided to divest one of its tea estates, namely Balijan North Tea Estate located at Post Chabua, Dist. Dibrugarh, Assam.
To this end, the Company has entered into a memorandum of understanding with Dhunseri Tea & Industries Limited.
This process of monetizing the Company’s assets involves reversing financial prowess, lower financial costs, availability of more working capital, ability to generate Company profits, modernize and upgrade the remaining business assets.
The gross consideration is Rs 27 Crores.
Dhunseri Tea & Industries Limited shares last traded in BSE at Rs. 248.95 from the previous close of Rs. 254.60. The total number of shares traded during the day was 1057 in more than 87 trades.
The action hit an intraday high of Rs. 257.35 and an intraday low of 246.00. The net turnover during the day was Rs. 267 368.00.
WARREN TEA LTD. Last traded on BSE at Rs. 82.40 from the previous close of Rs. 81.85. The total number of shares traded during the day was 3,236 in more than 62 trades.
The stock hit an intraday high of Rs. 84.00 and an intraday low of 80.30. The net turnover during the day was Rs. 265,729.00.