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Hindustan Everest Tools on Friday informed the exchanges that its board of directors will meet on June 9 to consider and approve proposals for the sale of the entire land of its sole manufacturing plant at Sonepat (Haryana). The company had already informed the BSE regarding closure of manufacturing activities and the sale of product brand ‘Everest’ as the board felt that the existing business activities were unviable. Shares of the company were suspended due to penal action. The stock last traded at ₹39.90 on the BSE on April 10.
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