Mukand zooms 38% in 2 days on transfer of land at Thane for Rs 802 crore

The management said during the financial year 2020-21, the company reduced its debt and other interest-bearing liabilities by more than Rs 975 crore

Shares of Mukand rallied 15 per cent to hit a fresh 52-week high of Rs 79.80 on the BSE in intra-day trade on Wednesday on the back of five-fold jump in trading volumes.

The stock has zoomed 38 per cent in just two trading days after the company announced that it has completed the transfer of approximately 55 acres of surplus leasehold land at Thane to NTT Global Data Centers Nav2 and received total consideration of Rs 801.51 crore, including taxes, which shall, amongst other things, be utilised for debt repayment of the company.

Mukand has also completed