VIP Industries increases on selling its non-operational unit
Wednesday, December 31, 2008 1:25 pmVIP Industries presently trades at Rs 39.50, up by 2.25 points or 6.04% from its previous closing of Rs 37.25 on the BSE.
The stock opened at Rs 38.35 and has touched a high of Rs 41.40 with low remaining its opening price. So far 6323 shares were traded on the BSE.
The BSEÂ Small-cap stock touched a 52 week high of Rs 169 on January 1, 2008 and a 52 week low of Rs 31.05 on November 26, 2008.
The BSE Small-cap index presently trades at 3,699.22 up by 1.75% from its previous closing.
VIP Industries’ board, at its meeting held on December 30, 2008, has ‘in principle’ approved the sale of the company’s unit at Satara in Maharashtra for a total consideration of Rs 4.70 crore.
The company had stopped manufacturing operations from the Satara unit since December 2007.