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Salora International surges on getting nod to sell property in Uttar Pradesh

Salora International is currently trading at Rs. 41.40, up by 1.90 points or 4.81% from its previous closing of Rs. 39.50 on the BSE.

The scrip opened at Rs. 39.50 and has touched a high and low of Rs. 41.40 and Rs. 39.05 respectively. So far 5162 shares were traded on the counter.

The BSE group ‘XT’ stock of face value Rs. 10 has touched a 52 week high of Rs. 45.25 on 25-Mar-2021 and a 52 week low of Rs. 9.50 on 08-Jul-2020.

Last one week high and low of the scrip stood at Rs. 41.55 and Rs. 37.00 respectively. The current market cap of the company is Rs. 34.39 crore.

The promoters holding in the company stood at 66.72 % while Institutions and Non-Institutions held 0.01 % and 33.27 % respectively.

Salora International’s board has approved the proposal for sale / divestment of the company’s property situated at B-31 to 34 & B-50 to 53, Sector – 80, NOIDA – 201 305, District Gautam Budh Nagar, Uttar Pradesh to reduce debt of the company and the corresponding interest burden. The potential sale will have no adverse impact on the operations of the company. The board of directors of the company at its meeting held on April 8, 2021 has approved the same.

Salora International (SIL) is the flagship company of Jiwarajka Group. SIL is a leading player in the Indian consumer electronics industry and caters to both the retail and the B2B space.

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