{"id":112723,"date":"2023-10-27T14:15:36","date_gmt":"2023-10-27T08:45:36","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112723"},"modified":"2023-10-27T14:15:41","modified_gmt":"2023-10-27T08:45:41","slug":"microcap-stock-jumps-4-after-it-announced-sale-of-its-vietnam-subsidiary-for-2-15-million","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/microcap-stock-jumps-4-after-it-announced-sale-of-its-vietnam-subsidiary-for-2-15-million\/","title":{"rendered":"Microcap stock jumps 4% after it announced sale of its Vietnam subsidiary for $2.15 Million\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-501816547\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of one of the leading Bulk tea producers of India gained 3 percent after it announced that it is going to sell its vietnam subsidiary for a consideration of USD 2.15 million.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1566613377\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 1:35 p.m the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MCLEODRUSS\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Mcleod Russel India<\/a><\/strong> were trading at Rs. 18.90 up 3.28 percent from its previous day close price and its market capitalization is Rs. 198 Crores.\u00a0<\/p><p>As per the company\u2019s filing, Borelli Tea Holdings Limited (BTHL) a wholly owned subsidiary of McLeod Russel India Limited to sell 100 percent of the Capital Contribution in Phu Ben Tea Company Limited(PBTCL), which is a Step down subsidiary of the company, to TLK Agriculture Joint Stock Company for a consideration of USD 2.15 million. <\/p><p>After completion of the sale, PBTCL will cease to be the subsidiary of BTHL and step-down subsidiary of the Company.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-449072763\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In addition to this, as per the reports, The sale of PBTCL is part of McLeod Russel\u2019s strategy to focus on its core business in India, which has been facing financial challenges in the recent year and selling non-core assets. In August the company had agreed to sell 15 tea estates in Assam to electrode paste maker Carbon Resources for around Rs. 700 Crores in a deal that will help it pare debt.&nbsp;<\/p><p>The company\u2019s revenue grew 1.01 percent from Rs. 1,355.83 Crores in FY22 to Rs. 1,369.57 Crores in FY23, accompanied by increasing losses of Rs. 180.92 to Rs. 1,056.51.&nbsp;<\/p><p>According to the latest shareholding data available for the September 2023 quarter, the company\u2019s Promoters hold 6.25 percent stake, Domestic Institutional Investors hold 1.34 percent and the Foreign Institutional Investors hold 0.00 percent.&nbsp;<\/p><p>McLeod Russel India is engaged in the business of cultivating and selling of tea in domestic as well as international markets.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Bharath K.S<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-811534994\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of one of the leading Bulk tea producers of India gained 3 percent after it announced that it is going to sell its vietnam subsidiary for a consideration of USD 2.15 million.&nbsp; At 1:35 p.m the shares of Mcleod Russel India were trading at Rs. 18.90 up 3.28 percent from its previous day [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":45293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[13723,13722,13724,948,936],"class_list":["post-112723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-mcleod-russel-latest-news","tag-mcleod-russel-share-price","tag-mcleod-russel-subsidiary-sale","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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