Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

NITCO Ltd Enters into Non-binding Term Sheet with Hines India Real Estate Pvt. Ltd.

Posted On: 2019-12-03 21:41:04


NITCO is the owner of 4 acre plot at Kanjurmarg, Mumbai. With a view to monetise this asset, the Company has entered into a Non-binding term sheet on 3rd December, 2019 to appoint Hines India Real Estate Pvt Ltd as a Development Manager for providing end to end services for office/mixed use development on the said 4 acre plot with a development potential of approx 1.3 million sq. Ft. of leasable / saleable area (subject to design confirmation and applicable regulations).

Roles and Responsibilities of the Development Manager will include:

1) Pre Development Services including preparation of business plan, assist in the design process, assisting in arranging financial closure etc.

2) Construction Services.
3) Leasing and Marketing of the project.
4) Asset Management post construction phase.

The parties will work towards concluding the definitive agreements containing the terms of the transaction.

Hines India Real Estate Pvt. Ltd. is part of the global firm Hines headquartered in Houston, Texas, USA. Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 219 cities in 23 countries and $124.3 billion of assets under management-including $63.8 billion for which Hines provides fiduciary investment management services and $60.5 billion for which Hines provides third-party property-level services.

Hines has 148 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm's current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world.

This marks the entry of Hines into Mumbai (Until now Hines has been operating in India only in Gurugram in association with DLF). This association with Hines will help Nitco monetize its real estate assets.

Shares of NITCO LTD. was last trading in BSE at Rs.29.65 as compared to the previous close of Rs. 28.25. The total number of shares traded during the day was 7220 in over 52 trades.

The stock hit an intraday high of Rs. 29.65 and intraday low of 28.7. The net turnover during the day was Rs. 210717.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

TCS' Blockchain Product Quartz™ is now available on Microsoft Azure

Ramco Systems signs agreement with CHI Aviation

Steel Strips Wheels Ltd receives export orders of nearly 10000 wheels

Saregama launches Carvaan Malayalam with 5000 pre-loaded evergreen Malayalam song and Carnatic music

Momentive Quartz Technologies (MQT) Selects Kellton Tech to Implement SAP S/4HANA

HCL Technologies announces intent to acquire leading Australian IT Solutions Company, DWS Limited

GOCL Corporation Limited's UK subsidiary to sell partial stake in Quaker Houghton for $35 mn

Sonata Launches 'CSK 2020 Edition' for Chennai Superkings Fans

Universal Cables Ltd updates on capacity expansion

Innovators Facade Systems Limited receives work order of Rs. 26 crores

MRPL shareholders approve proposal to raise funds of Rs. 5000 crore

ITC Ltd increases stake in Delectable Technologies Pvt Ltd

PNB associate bank, JSC Tengri Bank's License revoked

ITC Ltd.'s Sunfeast YiPPee!'s 10th Anniversary celebrations make a GUINNESS WORLD RECORDS® achievement

RITES Ltd board approves buy back through tender offer at Rs. 265

Route Mobile Limited shares to list on Monday - Sep 21, 2020

Mysore Petro Chemicals Limited to write-off GBP 770,000

Somany Ceramics adds a dash of style at T2, Mumbai Airport.

United Spirits Ltd announces resignation of CFO

Lords Chloro Alkali Ltd posts loss of Rs. 1.08 crore in Q1FY21

Zydus Cadila receives final approval from USFDA for Potassium Chloride Extended-Release Tablets

ICRA upgrades rating of Escorts Ltd

Bhatia Mobile to Migrate to main board of BSE

Avantel Ltd receives order of Rs. 15.97 crore from Bharat Electronics Ltd

Magna Electro Castings Ltd board approves buy back at Rs. 175

TATA Tea Chakra Gold Becomes Official Tea Partner for Chennai Super Kings in IPL 2020

Tiger Logistics India Limited provides future Business Outlook

Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

TVS Motor Company expands and strengthens its presence in Colombia

ICICI Securities successfully closes ~INR 6,000 mm IPO of Route Mobile Limited

EIH Limited approves rights issue, fixes Sep 23, 2020 as record date

Hindalco and Hindustan Copper sign MoU for supply of copper concentrate

Kilpest India Limited to merge subsidiary with itself, change name as 3B BlackBio Dx Ltd

Sterling and Wilson Solar Limited Signs order of 106.71 MW worth USD 62.6 mn in Chile

South Korea donates One lakh masks to TVS Motor Company for free distribution to aid India's fight against COVID-19

TCS Recognized as a Leader in Cloud-Native Application Development Services by Everest Group

Power Grid Corporation of India Ltd receives approval for setting up of InvIT

Mahindra Happinest® sells 100+ homes online within a week at 'Happinest Palghar'

Ramco Systems signs agreement with Arla Foods

IRCON International Ltd secures order worth Rs. 1900 crore

Phoenix Group Partners with TCS to Introduce Enhanced Analytics for Workplace Pension Clients

L&T Construction secures order from Northern Coalfields Ltd

Dr. Reddy's announces the launch of Over-the-Counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the store-brand equivalent of Pataday®, the Eye Allergy Drop in the U.S. Market

Ashok Leyland receives an order for 1400 ICVs from Procure Box

PTC India Financial Services Ltd receives Rs. 115.57 crore IT refund

Thomas Cook India & SOTC partner with India's favourite storyteller Amar Chitra Katha

Shankar Lal Rampal Dye-Chem Ltd Board to consider Bonus Issue of Equity Shares

Dhanuka Agritech Ltd fixes Sep 28, 2020 as record date for buy-back

Sterling and Wilson Solar Limited declares financial results for quarter ending 30th June 2020

JMC secures new orders of Rs. 1,342 Crores







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019