Hindustan Organic board meets on Feb 8 to consider divestment in arm

Hindustan Organic Chemicals on Thursday said its board is set to meet on February 8 to consider sale of land at Rasayani in Maharashtra and divestment in subsidiary Hindustan Fluorocarbons Ltd. In an exchange filing, the company said, its board will consider sale of 442 acre of land to BPCL and 20 acre of land along with some plant and machinery to ISRO. Besides, it will also consider sale of plant and machinery for manufacturing concentrated nitric acid and di-nitro tetroxide. The board ageda include divestment of 56.43 per cent stake in Hindustan Fluorocarbons. Shares of HOCL up nearly 5 per cent at ₹24.35 on the BSE.