Best Agrolife jumps on getting nod to grant loan to subsidiary company
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Best Agrolife is currently trading at Rs. 386.00, up by 17.25 points or 4.68% from its previous closing of Rs. 368.75 on the BSE.
The scrip opened at Rs. 326.00 and has touched a high and low of Rs. 386.00 and Rs. 326.00 respectively. So far 3478 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 837.55 on 18-Aug-2020 and a 52 week low of Rs. 166.25 on 27-Mar-2020.
Last one week high and low of the scrip stood at Rs. 390.00 and Rs. 326.00 respectively. The current market cap of the company is Rs. 850.44 crore.
The promoters holding in the company stood at 40.78%, while Institutions and Non-Institutions held 10.34% and 48.88% respectively.
Best Agrolife has received approval from board of directors to grant loan or give guarantee or provide security to Seedlings India, a wholly owned subsidiary of the Company for an amount not exceeding Rs 50 crore in one or more tranches, pursuant to Section 179 read with Section 186 of the Companies Act, 2013. The Board of Directors at its meeting held on March 15, 2021 has approved the same.
Best Agrolife engaged in business of trading of all kinds of plastic & chemicals raw material and products.
