The board of Chambal Fertilisers and Chemicals on Monday approved a proposal to sell the remaining three ships owned by it for a total consideration of $64.5 million. The vessel Ratna Shruti will be sold to Campanella Shipping Ltd, Malta, on or before September 1 for $21.5 million, while the vessel Ratna Shradha will be sold to Sempreviva Shipping Ltd, Malta, on or before September 15 for $21.5 million. The vessel Ratna Namrata will be sold to Gizmo Shipping Ltd, Malta, by September 15 for $21.5 million. After delivery of the vessels, the company intends to close down the shipping business in due course of time. This exercise is expected to be completed by December 31, the company said in the notification. For the financial year ended March 31, revenue from the company’s shipping division constituted 3.77 per cent of the total revenue. For FY17, the net worth of the company’s shipping division was ₹96.9 crore, which is 3.82 per cent of the net worth of the company. Shares of Chambal Fertilisers & Chemicals slipped 2.3 per cent at ₹114.10 on the BSE.

Supreme Infrastructure India has received an EPC order worth ₹244 crore. In a notification to the stock exchanges on Monday, the company said that it has received a letter of acceptance from Jharkhand Urban Infrastructure Development Company for construction of a flyover at Ratu Road for ₹130.06 crore and a letter of appointment from LOMA IT Park Developers Pvt Ltd for construction of residential building Phase-I in Ghansoli. The estimated cost of project/ building is approximately ₹114 crore. The client would be providing materials such as steel, cement, and ACC blocks of approximate value of ₹71.19 crore, it said in the statement. The stock closed flat at ₹82.4 on the BSE.

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