Gayatri Projects share price rose 5 percent intraday on December 5 after the company's subsidiary Gayatri Energy Ventures Pvt Ltd (GEVPL) said it is going to sell its stake in Sembcorp Energy India Limited (SEIL).
Gayatri Energy Ventures has offered to sell 5.95 percent (32,34,53,773 equity shares) in Sembcorp Energy India Limited (SEIL) to Sembcorp Utilities Pte Ltd (SCU). SCU has agreed to purchase the same for an amount of approximately Rs 406 crore.
An extraordinary general meeting to be held on December 10 with regard to disposal of assets/shares held by Gayatri Energy Ventures in Sembcorp Energy India.
Company's non-executive independent director K. Jairaj resigned from the board of directors of the company.
At 1006 hrs, Gayatri Projects was quoting at Rs 73.00, up Rs 3.05, or 4.36 percent on the BSE.
The share touched its 52-week high of Rs 196.35 and its 52-week low of Rs 56.90 on 18 December 2018 and 25 November 2019, respectively.
Currently, it is trading 62.82 percent below its 52-week high and 28.3 percent above its 52-week low.
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