Savera Ind Jumps Over 7% On Plan To Close Bangalore Unit

Posted By: Religare
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    Shares of Savera Industries rose over 7 per cent on the Bombay Stock Exchange after the company said it has decided to close the company's Bangalore unit "Savera Purple".

    Savera Ind Jumps Over 7% On Plan To Close Bangalore Unit
    Savera Industries: Quotes, News
    BSE 63.50BSE Quote2.25 (3.54%)
    NSE 41.5NSE Quote0 (0.00%)
    The reason for the closure of the business is due to continues losses incurred by the unit.

    Following the announcement, shares of the company gained as much as 7.30 per cent to hit intra-day high of Rs 74.90 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 72.60 against previous close price of Rs 69.80.

    Meanwhile, the broader benchmark BSE Sensex was trading at 29,947.84, up 26.66 points or 0.09 per cent, at 11:00 hour.

    Check stock quote of Savera here

    Read more about: savera industries
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