Rohit Ferro-Tech Ltd (RFL) Tuesday said it is looking to sell, transfer or otherwise dispose off its 102,530 TPA capacity ferro-alloy plant in Jajpur, Odisha.
According to National Stock Exchange (NSE), RFL informed the exchange that its board of directors in its meeting held Monday approved the proposal to sell, transfer or otherwise dispose of the Jajpur manufacturing unit of the company.
"Rohit Patni, managing director and Suresh Kumar Patni, director of the company have been authorized to negotiate the proposed deal with the prospective acceptable purchasers," NSE said.
The company has been under financial stress for sometime and posted a net loss of Rs. 117.54 crore in the March 2014 quarter due to increase in the cost of inputs, high finance costs and foreign exchange fluctuation and cash flow constraints.
-- Indo-Asian News Service
avr/vip/vm
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app