Indoco Remedies Limited approves land purchase

The Committee of Executive Directors of Indoco Remedies Limited at its meeting held today i.e. March 12, 2024 has approved the purchase of land (which was previously held by the Company on leasehold rights) admeasuring 2,860.75 square meters situated at Plot No.18/A of Mahal Industrial Estate, Village Mulgaon, Taluka Andheri, District Mumbai Suburban from an unrelated third-party seller "Saldanha Realty and Infrastructure LLP" for the expansion plans of the Company. Accordingly, the Company executed the Indenture of Conveyance for the purchase of the aforesaid land.

Shares of Indoco Remedies Limited was last trading in BSE at Rs. 337.45 as compared to the previous close of Rs. 334.70. The total number of shares traded during the day was 2355 in over 225 trades.

The stock hit an intraday high of Rs. 343.90 and intraday low of 331.00. The net turnover during the day was Rs. 791079.00.

Source : Equity Bulls

Keywords

IndocoRemedies INE873D01024 LandPurchase