The Board Directors of Savera Industries Limited have Considered, approved/recommended and taken on record the proposal to enter into a new line of business of packaged drinking water manufacturing plant as a part of expansion on the leased property consisting of land and building from related party M/s. Shyam Hotels & Restaurants (Partnership Concern) and purchase of the existing plant and machineries with respect to packaged drinking water manufacturing plant in the said leased property.
The Purchase of Plant & Machineries by M/s. Savera Industries Limited as per valuation report from M/s. Shyam Hotels & Restaurants (Partnership Concern) and also has entered into a lease agreement with M/s. Shyam Hotels & Restaurants (Partnership Concern) for land measuring an extent of 2 acres 22.5 cents and factory building around 10000 sq ft., situated at No.30, Nemam village, Poonamallee taluk, Thiruvallur Dist.
The Packaged drinking water manufacturing plant will commence commercial production on obtaining the required approvals and transfer of licenses and trademark in favour of M/s. Savera Industries Limited.
The manufactured packaged drinking water from the said plant shall be marketed under the brand name of "Savera".
Further Investment in the packaged drinking water manufacturing plant upto INR 40 Lakhs.
Shares of SAVERA INDUSTRIES LTD. was last trading in BSE at Rs. 170.30 as compared to the previous close of Rs. 169.50. The total number of shares traded during the day was 6294 in over 91 trades.
The stock hit an intraday high of Rs. 173.85 and intraday low of 167.05. The net turnover during the day was Rs. 1072300.00. |
