The company's holding in Bhilwara Energy, after the proposed sale, shall be 1,25,24,960 equity shares comprising of 7.56 percent.
Shares of RSWM gained nearly 4 percent intraday Wednesday after company decided to sell its stake in the associate company.
According to company's press release on BSE RSWM decided to sell 1,69,38,599 equity shares of Rs 10 each held in Bhilwara Energy an associate company at a cash consideration of Rs 84.85 crore to HEG on the basis of valuation of fair price per share on arm's length basis.
The company's holding in Bhilwara Energy, after the proposed sale, shall be 1,25,24,960 equity shares comprising of 7.56 percent.
At 15:04 hrs RSWM was quoting at Rs 185.70, up Rs 4.95, or 2.74 percent on the BSE.
The share touched its 52-week high Rs 353.00 and 52-week low Rs 148.00 on 03 May, 2018 and 14 February, 2019, respectively.
Currently, it is trading 48.41 percent below its 52-week high and 23.04 percent above its 52-week low.For more market news, click here
