Sam Industries Ltd launches new real estate project

The Board of Directors of Sam Industries Limited has approved 'Shivaay' as a brand of the name of the Real Estate Division of the Company.

The Board has approved to launch a new project i.e 'Shivaay LogiSpace' a Logistics Park with a total spread of approx. 20 acres to construct and lease warehouses at Village. Dakachiya, Tehsil: Sanwer; A. B. Road, Indore - 453771, Madhya Pradesh.

The Board has approved to launch yet another project i.e. a mixed-use commercial building on one of the most prominent high streets of lndore under the name of 'Shivaay One', which will be ready by the end of the flnancial year.

The Board has approved Letters of Intent (LOI) with (1) M/s. Delhivery Limited and (2) M/s. Instakart Services Private Limited (Flipkart) for constructing warehouses and to lease them.

The Board has approved to borrow money from Banks upto Rs. 30 Crores for company's above-mentioned projects.

Shares of SAM INDUSTRIES LTD. was last trading in BSE at Rs. 51.00 as compared to the previous close of Rs. 48.58. The total number of shares traded during the day was 1214 in over 20 trades.

The stock hit an intraday high of Rs. 51.00 and intraday low of 49.48. The net turnover during the day was Rs. 60389.00.

Source : Equity Bulls

Keywords

SAMINDUSTRIES INE653D01012 Shivaay BrandName RealEstateDivision LogisticsPark