Nel Holdings South Ltd updates on transfer of Caesar's Palace Project

Pursuant to the exit from residential real estate business and deleveraging the overall debt of Nel Holdings South Ltd, the Company has filed its application with Real Estate Regulatory Authority (RERA) and was awaiting for its approval order for one of our project in South Bangalore - Caesar's Palace.

The company has now successfully obtained the Real Estate Regulatory Authority (RERA) order for the transfer of the project to the new developer for this project.

With this transfer over 260 existing Customer litigations pending in this project shall be withdrawn and will stand resolved.

Shares of NEL HOLDINGS SOUTH LIMITED was last trading in BSE at Rs. 2.36 as compared to the previous close of Rs. 2.37. The total number of shares traded during the day was 61985 in over 82 trades.

The stock hit an intraday high of Rs. 2.4 and intraday low of 2.26. The net turnover during the day was Rs. 143111.

Source : Equity Bulls

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