 "RCF gains on board nod to acquire stake in FCIL's Sindri unit")
The board at its meeting held on February 25, 2016 has in-principale approved to take a minimum of 11% equity stake in the revival of Sindri unit of Food Corporation of India Ltd by forming a new joint venture with other state-owned units, the company said in a release.
FCIL's Sindri unit is located about 20 kms away from the district headquarters of Dhanbad district in the State of Jharkhand.
The stock opened at Rs 40 and touched an intra-day high of Rs 41. At 11:10am, over 718,000 shares were traded on both the stock exchanges.
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