Prism Johnson Limited’s stock surged by more than 8% in morning trading following the announcement of a significant asset sale. As of 9:51 AM, the shares were trading 7.65% higher at Rs 142.75.
The company announced that its board had approved the sale of a portion of its industrial premises, located at its tile plant in Pen, Dist. Raigad, Maharashtra, to JSW Steel Limited. Valued at Rs. 164.63 Crores, the transaction is expected to be completed by February 8, 2025.
This strategic move is part of Prism Johnson’s broader plan to monetize its industrial assets and strengthen its financial position. The company emphasized that the sale would not impact its HRJ Division, ensuring operational continuity. The proceeds from the sale will be directed towards debt repayment, bolstering the company’s financial stability and supporting its growth strategy.
Prism Johnson shares opened at ₹134.00, with a high of ₹145.98 and a low of ₹133.29. Over the last 52 weeks, the stock has experienced significant fluctuations, reaching a 52-week high of ₹246.00 and a low of ₹127.25.
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