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An announcement from Ganesh Benzoplast Limited ( (IN:GANESHBE) ) is now available.
Ganesh Benzoplast Limited has announced the termination of its joint venture with BW Confidence Enterprise Private Limited, BW LPG Holding Pte. Ltd., Confidence Petroleum India Limited, GBC LPG Private Limited, and its subsidiary GBL LPG Private Limited, which was aimed at developing an LPG storage terminal at JNPT. The decision to terminate the joint venture was influenced by changing global and local scenarios affecting LPG offtake. As part of the termination, Ganesh Benzoplast sold its shareholding in GBC LPG and received a non-compete fee to protect BW’s strategic interests in India. The termination is not expected to have a material adverse impact on the company’s business, as it plans to use the JNPT land for expanding its storage capacity and future projects.
More about Ganesh Benzoplast Limited
Ganesh Benzoplast Limited operates in the chemical industry, specializing in the production and storage of chemicals, including liquid cargo. The company is focused on expanding its storage capacity and diversifying its storage facilities to include ammonia and chemical storage.
Average Trading Volume: 9,020
Technical Sentiment Signal: Sell
Current Market Cap: 5.85B INR
For an in-depth examination of GANESHBE stock, go to TipRanks’ Overview page.