TCM Limited to sign MOU for development of land at Kalamassery, Ernakulam

The Board of Directors of TCM Limited in its meeting held on Saturday, 09th December 2023, 0n a shorter notice, has considered, approved and authorized the Managing Director, Mr. Joseph Varghese to sign an MOU on behalf of the Company, with Asset Homes TCM Townships Pvt Ltd for development of Company's land situated at Kalamassery, Ernakulam and accept Loan of Rs. 25 Crore and as applicable to the Company and create a Mortgage (until the Kalamassery land is made Charge free), in favor of M/s Asset Homes TCM Townships Private Limited, on Mettur, Tamil Nadu property (12.63 Acres of land) of the Company, as a security for release of all charges on Kalamassery land (JDA property).

Shares of TCM LTD. was last trading in BSE at Rs. 45.35 as compared to the previous close of Rs. 46.60. The total number of shares traded during the day was 23615 in over 78 trades.

The stock hit an intraday high of Rs. 47.98 and intraday low of 44.30. The net turnover during the day was Rs. 1059970.00.

Source : Equity Bulls

Keywords

TCM INE034F01010 MOU DevelopmentofLand Kalamassery Ernakulam