Hindoostan Mills to halt operations of composite division

The board of directors of Hindoostan Mills on Tuesday decided to discontinue the operations of the composite division. Accordingly, the board will identify buyer(s) to sell/dispose of its assets situated at Ambarnath and Karad, either in whole or substantially or in part(s) subject to approval of shareholders, if any. Shares of Hindoostan Mills crashed 13.38 at ₹251.20 on the BSE.