Alstom T&D India rose 2.47% to Rs 182.70 at 9:18 IST on BSE after the firm said it has entered into an agreement with a large Indian business group company for the sale of the firm's land in Bengaluru for a total consideration of about Rs 120 crore.
The announcement was made after market hours on Monday, 16 December 2013.
Meanwhile, the S&P BSE Sensex was up 103.02 points or 0.5% at 20,762.54.
On BSE, so far 323 shares were traded in the counter as against average volume of 34,000 shares in the past two weeks.
The stock hit a high of Rs 183.90 and a low of Rs 182.05 so far during the day.
Alstom T&D India said that in respect of its land in Bengaluru, which was previously used for manufacturing instrument transformers and the sale of which has been duly authorised by the shareholders of the company, has entered into an agreement for sale, with a large Indian business group company, for a total sale consideration of approximately Rs 120 crore. The sale is subject to the mutual satisfaction of terms, conditions and obligations mentioned in the agreement for sale and is likely to be concluded upon execution of a sale deed in three months time or earlier, the company said.
Alstom T&D India reported a net profit of Rs 20.81 crore in Q2 September 2013 as against a net loss of Rs 1.81 crore in Q2 September 2012. Net sales rose 18.3% to Rs 802.25 crore in Q2 September 2013 over Q2 September 2012.
Alstom T&D India is a market leader in the Indian power transmission sector.
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