/ Bajaj Hindusthan To Sell Co-Generation Power Biz Of 449 MW For Rs 1,800 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 20 December 2016

Bajaj Hindusthan Sugar Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 20, 2016, inter alia, considered approval of sale and transfer of Co-generation power business of aggregating capacity of 449 MW located at 14 locations to Lalitpur Power Generation Company Limited (LPGCL), a group Company for a lumpsum consideration in cash of approximately Rs. 1800 crore, as a going concern on slump sale basis in accordance with the Business Transfer Agreement to be entered into with LPGCL.

Entire amount of Cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar Limited towards advance repayment of its existing term debt. The proposed sale and transfer of Co-Gen power business will be subject to approval of members, lenders and all other statutory /regulatory authorities.

Bajaj Hindusthan Sugar Ltd is currently trading at Rs 13.7, up by Rs 0.33 or 2.47% from its previous closing of Rs 13.37 on the BSE.

The scrip opened at Rs 13.4 and has touched a high and low of Rs 14.74 and Rs 13.05 respectively. So far 7569145(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1515.57 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 24.2 on 13-Jun-2016 and a 52 week low of Rs 12.65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 14.48 and Rs 13.3 respectively.

The promoters holding in the company stood at 26.02 % while Institutions and Non-Institutions held 49.92 % and 23.91 % respectively. The stock is currently trading below its 200 DMA.
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