Shares of Mahindra Ugine Steel Company gained over 9%, touching the weekly high of Rs56.35, after the company said its board has approved selling 65 acres of excess land in Pune.
The board of Mahindra Ugine Steel Company has approved selling 65 acres of excess land out of the total land of around 122 acres at the company's stampings unit situated at Kanhe, District Pune, Maharashtra.
The company said the current valuation indicates a value of Rs89 crore for the said piece of land. The proposal to sell land is aimed at monetising the value of its unutilised assets and improve shareholders value by freeing up capital to reduce debt and facilitate growth.
....more info
The board of Mahindra Ugine Steel Company has approved selling 65 acres of excess land out of the total land of around 122 acres at the company's stampings unit situated at Kanhe, District Pune, Maharashtra.
The company said the current valuation indicates a value of Rs89 crore for the said piece of land. The proposal to sell land is aimed at monetising the value of its unutilised assets and improve shareholders value by freeing up capital to reduce debt and facilitate growth.
....more info