Eurotex Industries and Leela Group shelves IT SEZ project

Eurotex Industries & Exports Ltd has announced that the Board of Directors of the Company at its meeting held on May 19, 2007, has got a proposal from Leela Group to put an IT SEZ park on the Company's land at Calicut and that for this purpose the Company has initiated discussions with Leela for joining as joint venture partner in the project. The Company has held detailed discussions with Leela. Leela proposed to undertake the job of getting necessary approval from Government authorities for SEZ project.

The current status of the matter is that it has been shelved for the time being.

The stock closed the day at Rs.26.05, down by Rs.0.80 or 2.98%. The total traded quantity was 3986 compared to 2 week average of 3090. The stock hit an intraday high of Rs.27.20 and low of Rs.26.

Source : Equity Bulls

Keywords