Modern India Plans to set up an ITES SEZ at Khopoli

Modern India Ltd has announced that the Company is planning to set up an IT / ITES SEZ (Information Technology / Information Technology Enabling Services) (Special Economic Zone) on about 15 Hectare of land at Khopoli. This project will be implemented through a wholly owned subsidiary Company viz Modern India Property Developers Ltd.

The land was acquired by the Company about six months ago at a cost of about Rs 35 Crores and the State Government has already given their recommendation to the Central Government for formal approval of the project.

The stock was trading at Rs.212.40, up by Rs.10.10 or 4.99%. The stock hit an intraday high of Rs.212.40 and low of Rs.212. The total traded quantity was 20 compared to 2 week average of 676.

Source : Equity Bulls

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