Hira Ferro Alloys has sold its entire 13% stake in Maruti Clean Coal and Power (MCCPL) comprising of 1.75 million equity shares of Rs 10 each for a consideration of Rs 390 million.
The MCCPL is at presently engaged in the process of setting up business of Coal Washery and 300 MW Independent Power Plant in the State of Chhattisgarh. MCCPL is yet to start commercial operation in coal washery and power plant.
Shares of the company declined Rs 1.35, or 6.16%, to trade at Rs 20.55. The total volume of shares traded was 7,700 at the BSE Friday).