KEC International has surged 6% to Rs 72 after the company said it has sold land admeasuring more than 7.3 acres in Thane, near Mumbai, for approximately Rs 214 crore to Tata Housing Development Company, a real estate arm of the Tata group.
The company has entered into an agreement for sale of its freehold land admeasuring more than 7.3 acres at the rate of - Rs 29 crore per acre with Ardent Properties Private Limited, a 100% subsidiary of Tata Housing Development Company Limited, KEC International said in a statement.
The company expects to complete all the formalities in a period of about 3 months.
The stock opened at Rs 70.10 and touched a 52-week high of Rs 74.80 on the BSE. A combined 615,624 shares changed hands on the counter till 0945 hours on the BSE and NSE.
The company has entered into an agreement for sale of its freehold land admeasuring more than 7.3 acres at the rate of - Rs 29 crore per acre with Ardent Properties Private Limited, a 100% subsidiary of Tata Housing Development Company Limited, KEC International said in a statement.
The company expects to complete all the formalities in a period of about 3 months.
The stock opened at Rs 70.10 and touched a 52-week high of Rs 74.80 on the BSE. A combined 615,624 shares changed hands on the counter till 0945 hours on the BSE and NSE.
