Monnet Ispat surges 20% on plans to sell stake in power unit
Source: IRIS | 10 Jul, 2015, 10.24AM
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Monnet Ispat & Energy witnessed a sharp rise in share price on Friday on plans to sell stake in power unit. The company has signed non-binding Memorandum of Understanding (MOU) with JSW Energy to discuss sell of majority and controlling stake of its subsidiary, Monnet Power.  Monnet Power is engaged in the business of developing coal fired thermal power plant located at Malibrahmani, Angul Orissa.
Shares of the company are trading at Rs 42.75, up Rs 7.1, or 19.92% at the Bombay Stock Exchange (BSE) on Friday at 10:16 a.m.
Total volume of shares traded on the bourses today was higher by 3,072.83% to 512,833 compared with 22-day average volume of 16,163.
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