The Indian Wood Products Co Ltd enters into MOU with Commercial Motors

The Indian Wood Products Co Ltd. has entered into a Memorandum of Understanding (MOU) with M/s. Commercial Motors, a Registered Partnership firm, having place of business at Rampur Road, Bareilly (hereinafter referred to as Developer), to explore the possibilities of real estate development at the Company unused idle land at the Company's plant at Izzatnagar Bareilly, Uttar Pradesh Pin - 243122 admeasuring 83,612 Sq Mtrs. This MOU is valid for six months within which the Developer shall to submit a proposal/feasibility report for the development of the project. The Company has not executed any development agreement nor given any right over the Company's land to the developer.

Shares of The Indian Wood Products Company Ltd was last trading in BSE at Rs. 27.25 as compared to the previous close of Rs. 27.95. The total number of shares traded during the day was 8405 in over 73 trades.

The stock hit an intraday high of Rs. 28.65 and intraday low of 26.50. The net turnover during the day was Rs. 230753.00.

Source : Equity Bulls

Keywords

TheIndianWoodProductsCompany INE586E01020 MoU RealEstateDevelopment Land Izzatnagar