Omaxe Ltd's subsidiaries receives LoI from Amritsar Development Authority for residential colony

Amritsar Development Authority ("ADA") has issued Letter of Intent to the Wholly Owned Subsidiaries of Omaxe Limited for developing a Residential Colony namely "Omaxe New Amritsar Integrated Township" at Village Nijjarpura, Meharbanpura, Wadali Dogra and Rakh Devidass Pura Tehsil & Distt. Amritsar. Punjab (127.722 Acres).

This milestone opens avenues for revenue generation and expansion in the Amritsar region. The introduction of the proposed Omaxe New Amritsar Integrated Township (pending License approval to consumers is expected to not only satisfy demand but also stimulate growth and improve the company's overall performance.

Shares of Omaxe Limited was last trading in BSE at Rs. 125.90 as compared to the previous close of Rs. 126.65. The total number of shares traded during the day was 25333 in over 126 trades.

The stock hit an intraday high of Rs. 128.70 and intraday low of 123.00. The net turnover during the day was Rs. 3201431.00.

Source : Equity Bulls

Keywords

Omaxe INE800H01010 Realty AmritsarDevelopmentAuthority ResidentialColony