Mukand Ltd shares surge 20% after company announces transfer of leasehold land

The equity shares of Mukand Limited surged in today's trading after the company announced the transfer of leasehold land on March 26, 2021. The shares opened in BSE at Rs. 62, as compared to the previous close of Rs. 57.80 and hit 20% upper circuit limit of Rs. 69.35. The shares were last trading at Rs. 67.50, up by Rs. 9.70 or 16.78%. The stock hit an intraday high of Rs. 69.35 and low of Rs. 62.

The company announced the transfer of the leasehold land admeasuring 2,19,938 sq. mtrs. (approx. 54.34 acres), together with the structures standing thereon, situated at Trans Thane Creek Industrial Area (TTC Industrial Area), Dighe and Navi Mumbai, Taluka, sub-district and district Thane for a lumpsum consideration of Rs. 679.25 crore plus applicable taxes, subject to fulfilment of certain conditions precedent by the parties.

The company on March 26, 2021 received received an aggregate consideration of Rs. 679,25,00,000 (Rupees Six Hundred and Seventy Nine Crore and Twenty-five Lakhs only) plus applicable taxes, from NTT Global Data Centers NAV2 Pvt. Ltd. which shall, amongst other things, be utilised mainly for repayment of debts of the Company.

Source : Equity Bulls

Keywords