According to the statement issued by Neetal Naarang, Vice-President, Corporate Communications, Monnet Ispat & Energy Limited, the discussions are at initial stage and the deal if fructified is subject to the due diligence and agreement on the commercial and other terms and conditions.
Monnet Ispat is at preliminary stage of discussion with few buyers to explore sale of its part stake in Monnet Power Company Limited, the company said Tuesday.
According to the statement issued by the company, the discussions are at initial stage and the deal if fructified is subject to the due diligence and agreement on the commercial and other terms and conditions. "Hence, there is no material development to warrant any disclosure at this stage."
Monnet Ispat stock price
On March 24, 2015, Monnet Ispat closed at Rs 53.65, up Rs 1.15, or 2.19 percent. The 52-week high of the share was Rs 161.55 and the 52-week low was Rs 52.10.
The latest book value of the company is Rs 404.80 per share. At current value, the price-to-book value of the company was 0.13.
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