Mafatlal Industries opened weak, down 2.25% at Rs.172.75 but from there it bounced back into the green, going up to Rs.182.95, not too far from its 5% UC of the day at Rs.186.15.
The company announced that it has sold off its 72,000 sq.mtrs land in Navsari to Goldi Solar for Rs.16.40 crore. The company said that it has already received the money.
A yesteryear bright star, the company today is a pale shadow of what it was earlier. A small cap ( Market cap of Rs.255 crore), promoters hold 71.29% stake of which group company, NOCIL holds 14%.