Max India rises ahead of board meet for sale of unit

The board of directors of the company will be held on today, to consider the proposal for sale of Max Speciality Films division

Max India is trading higher by 4% at Rs 190 ahead of the company’s board of directors meeting today to consider the proposal for sale of its wholly-owned packaging material making division, Max Speciality Films.

"A meeting of the board of directors will be held on September 10, to consider the proposal for sale of Max Speciality Films division," Max India said in a BSE filing.

Max Speciality Films is a fully-owned business specialising in the manufacture of a wide range of packaging unmetallised BOPP films and metallised BOPP films including high barrier films, thermal lamination films and leather finishing foils.

 

The stock opened at Rs 186 and hit a high of Rs 192 on the NSE. A combined 735,184 shares have changed hands on the counter so far.