Man Industries witnessed a surge in its share price after the Board of Directors, in a meeting held on November 21, 2024, approved two major developments:
- Asset Monetisation of Merino Shelters: The company announced plans to monetise the assets of its wholly owned subsidiary, Merino Shelters Private Limited. This could include selling, assigning rights, or forming joint ventures, providing significant liquidity and value creation.
- Expansion into Taiwan: The board approved the incorporation of a wholly owned subsidiary or branch in Taiwan. This move indicates the company’s intent to strengthen its international presence and explore new market opportunities.
These developments are expected to provide a financial boost and strategic advantage to Man Industries, driving investor confidence.
As of 9:21 am the shares were trading 1.72% higher at ₹299.30
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Man Industries