 "Mahindra Lifespace gains on inking pact with Sumitomo Corporation")
Shares of Mahindra Lifespace Developers are trading higher by nearly 2% at Rs 462.65 on the BSE after the realty firm inked a pact to set up an industrial park near Chennai in collaboration with Japan's Sumitomo Corporation for an amount of Rs 400 crore. CLICK FOR FULL STORY
The company formally signed a Memorandum of Understanding (MOU) with the Tamil Nadu government in the presence of CM Jayalalithaa.
During the phase-I the company will develop 300 acres of plan. First phase is expected to be completed by Fiscal 2018, said Sangeeta Prasad, Chief Executive Officer, Integrated Cities and Industrial Clusters, Mahindra Lifespace Developers Ltd.
The stock opened at Rs 460 and touched a high of Rs 464 on the BSE. A total of 1,280 shares changed hands on the BSE so far.
