Kansai Nerolac Paints Ltd to sell land at Lower Parel for Rs. 726 crores

The Board of Directors of Kansai Nerolac Paints Ltd has approved a proposal for entering into an Agreement for Sale with Aethon Developers Private Limited, subsidiary of Runwal Developers Private Limited ("Purchaser"), for the sale of the Company's land parcel at Lower Parel together with building thereon, for a consideration of Rs. 726 Crores. Accordingly, the Company has entered into an Agreement for Sale with the Purchaser. The sale is subject to completion of procedures and approvals as may be necessary in this regard.

Shares of Kansai Nerolac Paints Limited was last trading in BSE at Rs. 325.05 as compared to the previous close of Rs. 322.20. The total number of shares traded during the day was 8187 in over 404 trades.

The stock hit an intraday high of Rs. 326.95 and intraday low of 320.45. The net turnover during the day was Rs. 2649175.00.

Source : Equity Bulls

Keywords

KansaiNerolacPaints INE531A01024 LandSale LowerParel