FINWIRES · TerminalLIVE
FINWIRES

HMA Agro Industries to Sell Entire Stake in Two Wholly-Owned Subsidiaries

By

-- HMA Agro Industries (NSE:HMAAGRO, BOM:543929) has agreed to sell its entire stake in its non-operational wholly-owned subsidiaries, FNS Agro Foods and Laal Agro Food, to individual buyers, according to a Tuesday filing to the Indian stock exchanges.

The company will sell its entire stakeholding in FNS Agro Foods, comprising 895,593 equity shares of face value of 10 rupees each, and 9,999 equity shares of face value of 10 rupees each of Laal Agro Food.

Both transactions are expected to be completed by May 30, after which the two arms will no longer be subsidiaries of the company.

Related Articles

Asia

Hundsun Technologies' Profit More Than Quadruples in Q1; Revenue Slides 12%

Hundsun Technologies' (SHA:600570) attributable profit skyrocketed 343% to 138.8 million yuan in the first quarter from 31.3 million yuan a year earlier.Earnings per share at the financial software developer almost quadrupled to 0.07 yuan from 0.02 yuan, according to a Thursday filing with the Shanghai bourse.Operating income declined 12% year over year to 905.3 million yuan from 1.03 billion yuan due to lower revenue from wealth technology services, corporate banking, insurance core and financial infrastructure technology services.

$SHA:600570
Asia

NH3 Clean Energy Says Assessment Report Forecasts 'Substantial Public Benefit' From Western Australia Ammonia Project; Shares Up 9%

NH3 Clean Energy (ASX:NH3) received a positive assessment for its WAH2 clean ammonia project in Western Australia from advisory firm ACIL Allen, according to a Friday filing with the Australian bourse.The assessment forecasts "substantial public benefit" from the project and supports financing applications the company has filed with government-backed lending groups Northern Australia Infrastructure Facility and Export Finance Australia, per the filing.ACIL Allen estimates that phase 1 of the project would boost Australia's gross domestic product by AU$7.3 billion over its lifespan, or an average of AU$253 million per year. The advisory firm also forecasts the creation of an average of 80 full-time equivalent jobs and tax payments of AU$2.6 billion over the life of the project.The project would also reduce global emissions by 13.5 million tonnes of carbon dioxide equivalent by displacing conventional fossil fuels through the use of clean ammonia, among other public benefits, NH3 Clean Energy said.The company's shares gained nearly 9% in recent Friday trade.

$ASX:NH3
Asia

Gongniu Q1 Profit Down 3.5%, Revenue Declines 4.8%

Gongniu Group (SHA:603195) posted first-quarter net profit attributable to shareholders of 4.07 billion yuan, down 3.5% from 4.27 billion yuan the previous year.Earnings per share fell to 2.26 yuan from 2.36 yuan, according to a Thursday filing with the Shanghai bourse.The civil electrical products manufacturer's operating revenue declined 4.8% year over year to 16.0 billion yuan from 16.8 billion yuan.

$SHA:603195