Parsvnath Developers receives BOA formal approval for Bio-technology SEZ in Hyderabad

Parsvnath Developers Ltd has announced that the Board of Approvals, Ministry of Commerce & Industry, Government of India, in its meeting held on July 12, 2007, has accorded formal approval to the Company's Subsidiary viz, Parsvnath SEZ Ltd for the development of a Bio-technology & Pharma SEZ covering a land area of 25 acres at Genome Valley Biotech Park, Phase-III, Hyderabad (Andhra Pradesh).

This state-of-the art SEZ envisages a developable area of 21.5 lakh sq. ft. with an investment of Rs 400 crores. The project land has already been acquired and the Company is now moving towards early notification of the SEZ.

The stock was trading at Rs.380.60, up by Rs.2.50 or 0.66%. The stock hit an intraday high of Rs.386.90 and low of Rs.375.55. The total traded quantity was 240474 compared to 2 week average of 1212324.

Source : Equity Bulls

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