Raymond Limited had entered into a Development Management Agreement (DMA) with Colorplus Realty Limited for developing its upcoming realty project - 'Raymond Realty Phase I'.
In order to gain better operational efficiencies and control on the project, the Company intends to undertake the development on its own. Therefore, the said DMA has been terminated with mutual consent and an application has been made for modification of the RERA Registration.
We reiterate that the aforesaid termination of the DMA will not impact the development of the project - "Raymond Realty Phase I" and same is expected to progress as per schedule.
Shares of RAYMOND LTD. was last trading in BSE at Rs.816.2 as compared to the previous close of Rs. 818.75. The total number of shares traded during the day was 28530 in over 845 trades.
The stock hit an intraday high of Rs. 828.05 and intraday low of 810.4. The net turnover during the day was Rs. 23319267.