Mehmood Textile to liquidate 87.3m Orient Power shares

MG News | August 08, 2024 at 03:12 PM GMT+05:00

0:00

August 08, 2024 (MLN): The board of Mehmood Textile Mills Limited (PSX: MEHT) has approved the sale of its 87.34 million shares in Orient Power (Pvt) Ltd.

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.

Moreover, it said that the revenue generated from the proceeds of these shares may be utilized for business activities.

MEHT is principally engaged in manufacture and sale of yarn, grey cloth, and generation of electricity.

The company generated a revenue of Rs54.63 billion in financial year 2023, while its profit stood at Rs1.2bn.

Copyright Mettis Link News

Related News

Hot money bolts PSX with $4.4m exit

PSX Closing Bell: Bloodbath on the Bourse

TPL H1 loss shrinks 27%

Name	Price/Vol	%Chg/NChg
KSE100	151,973.00 479.70M	-9.57% -16089.17
ALLSHR	91,178.86 800.22M	-9.20% -9239.97
KSE30	46,326.47 200.60M	-9.73% -4995.92
KMI30	212,170.17 176.87M	-9.84% -23154.95
KMIALLSHR	58,382.38 455.91M	-9.19% -5909.79
BKTi	44,306.03 79.95M	-9.79% -4809.39
OGTi	29,106.80 28.46M	-9.93% -3209.99

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,185.00	67,760.00 64,325.00	-1640.00 -2.42%
BRENT CRUDE	71.88	71.96 70.69	0.12 0.17%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-3.50 -3.52%
ROTTERDAM COAL MONTHLY	107.95	107.95 107.95	0.30 0.28%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	66.60	66.67 65.38	0.12 0.18%
SUGAR #11 WORLD	14.05	14.10 13.78	0.18 1.30%