R&B Denims Ltd, Bang Overseas Ltd, Jet Freight Logistics Ltd and Selan Explorations Technology Ltd are among the other losers in the BSE's 'B' group today, 17 August 2022.

Sakthi Sugars Ltd tumbled 9.69% to Rs 17.25 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 1.72 lakh shares were traded on the counter so far as against the average daily volumes of 39972 shares in the past one month.

R&B Denims Ltd crashed 9.38% to Rs 41.55. The stock was the second biggest loser in 'B' group.On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 99135 shares in the past one month.

Bang Overseas Ltd lost 8.13% to Rs 41.8. The stock was the third biggest loser in 'B' group.On the BSE, 54120 shares were traded on the counter so far as against the average daily volumes of 4236 shares in the past one month.

Jet Freight Logistics Ltd shed 6.54% to Rs 20. The stock was the fourth biggest loser in 'B' group.On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 47033 shares in the past one month.

Selan Explorations Technology Ltd slipped 6.10% to Rs 187.1. The stock was the fifth biggest loser in 'B' group.On the BSE, 9301 shares were traded on the counter so far as against the average daily volumes of 5827 shares in the past one month.

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Net profit of Sakthi Sugars reported to Rs 174.34 crore in the quarter ended June 2022 as against net loss of Rs 49.61 crore during the previous quarter ended June 2021. Sales rose 156.36% to Rs 302.30 crore in the quarter ended June 2022 as against Rs 117.92 crore during the previous quarter ended June 2021.

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Sakthi Sugars will hold a meeting of the Board of Directors of the Company on 13 August 2022.

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The agreement is with Indian Potash (purchaser) for the selling the units on a going concern on an 'AS IS WHERE IS WHAT IS' basis by way of a slump sale and specifically include the assets, liabilities and the agreed liabilities, except contingent assets and contingent liabilities, for a consideration of Rs 134.10 crore.

The purchaser will participate in the management and operations of the Dhenkanal units immediately on the execution of the BTA.

The effective date of the business transfer agreement is 1st July 2022 and the closing date of the transaction, after fulfilling the conditions precedent to closing, will be prior to 30th September 2022.

Sakthi Sugars is one of the largest producers of sugar in India. The products manufactured by the company include white crystal sugar of grades S30, M30, and L30. The byproducts include molasses, bagasse, and bio compost. The company is also in the business activities of sugar, power, soya products, and industrial alcohol.

The company's standalone net profit declined 71.80% to Rs 19.87 crore on a 39.86% rise in sales to Rs 314.71 crore in Q4 FY22 over Q4 FY21.

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