Empee Distilleries rose 2.62% to Rs 54.75 at 10:37 IST on BSE after the company said its board will meet on 26 December 2016 to consider selling the company's stake in Empee Hotels.
The announcement was made after trading hours today, 21 December 2016.Meanwhile, the BSE Sensex was down 210.68 points, or 0.80%, to 26,031.70.
On the BSE, so far 33,000 shares were traded in the counter, compared with average daily volumes of 38,888 shares in the past one quarter. The stock had hit a high of Rs 56.55 and a low of Rs 54.25 so far during the day.
The stock hit a 52-week high of Rs 107 on 23 December 2015. The stock hit a 52-week low of Rs 44.50 on 22 November 2016.
The board of Empee Distilleries will consider sale of 1.95 crore equity shares of Rs 10 each held by the company in Empee Hotels, an unlisted entity.
The board will also consider to amend certain clauses in the extraordinary general meeting notice dated 27 October 2016 (duly passed by shareholders) to allot 9.39 lakh equity share warrants to EW India Special Assets Fund and 2.27 lakh equity share warrants to Edelcap Securities at Rs 64.54 per warrant on preferential basis.
Empee Distilleries reported net loss of Rs 5.92 crore in Q2 September 2016 as against net profit of Rs 4.91 crore in Q2 September 2015. Net sales declined 30.9% to Rs 121.03 crore in Q2 September 2016 over Q2 September 2015.
More From This Section
Empee Distilleries' principal activity is manufacture and sale of Indian made foreign liquor.
Powered by Capital Market - Live News