Mukand shares jump 12% after Rs 673 crore land sale agreement in Thane
Shares of Mukand Ltd surged nearly 12% in early trade on Thursday to ₹152.02, following the company's announcement that it has signed an agreement to sell land parcels in Kalwe and Dighe, Thane for a total consideration of approximately ₹673 crore.
The stock opened at ₹141.49 and rallied to an intraday high of ₹162, before trading near ₹152 at 9:20 am. This compares to the previous close of ₹135.75. Trading volumes were robust, with over 7 lakh shares changing hands on the NSE.
Mukand informed the stock exchanges that the agreement for sale was executed on July 23, 2025, with AGP DC Infra Private Limited for around 17.77 acres of land, including a 50% undivided share in an access road and non-exclusive rights over an additional 0.16-acre parcel.
The sale price has been fixed at no less than ₹86,980 per sq. metre, and the company has already received an advance payment of ₹110 crore. The transaction is subject to regulatory approvals, fulfilment of certain conditions precedent, and due diligence by the buyer.
Mukand clarified that this land sale will not impact its operations and does not constitute a sale of an undertaking under Section 180(1)(a) of the Companies Act, 2013.
The proceeds are expected to help the company unlock value from non-core assets and support its financial strategy, though the exact impact on earnings will depend on the final valuation and completion timeline.
This land monetisation move has been well received by the market, pushing Mukand's stock close to its 52-week high of ₹188.20.
Ahmedabad Plane Crash
Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at BusinessUpturn.com. You can write to her at [email protected]
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
7 hours ago
- Business Insider
Bernstein Sticks to Their Sell Rating for Bajaj Finance Limited (BAJFINANCE)
In a report released today, Pranav Dheeeraj Gundlapalle from Bernstein maintained a Sell rating on Bajaj Finance Limited, with a price target of INR640.00. The company's shares closed today at INR913.75. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Dheeeraj Gundlapalle is a 3-star analyst with an average return of 9.2% and a 63.64% success rate. In addition to Bernstein, Bajaj Finance Limited also received a Sell from UBS's Alok Srivastava in a report issued today. However, on the same day, Investec maintained a Hold rating on Bajaj Finance Limited (NSE: BAJFINANCE).
Business Upturn
a day ago
- Business Upturn
Saurashtra Cement CFO Pradeep Mehta resigns, effective July 25, 2025
By Aditya Bhagchandani Published on July 25, 2025, 14:26 IST Saurashtra Cement Limited has announced that its Chief Financial Officer (CFO), Mr. Pradeep Mehta, has officially resigned from his position. As per the company's filing with BSE and NSE on July 25, 2025, Mehta's resignation will take effect from the close of business hours on the same day. The company stated that Mehta stepped down due to personal reasons and 'with great reluctance.' In his resignation letter dated May 26, 2025, addressed to the Managing Director, Mehta requested to be relieved in one month and asked for the waiver of the balance notice period. Saurashtra Cement affirmed that Mr. Mehta is committed to ensuring a smooth transition, including handing over responsibilities and supporting the team during the interim period. The company has disclosed this update in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. The resignation details and a copy of the resignation letter were also shared as part of the disclosure. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business Upturn
JSW Energy signs first FDRE power purchase agreement with SECI for 230 MW project
By Arunika Jain Published on July 25, 2025, 08:50 IST JSW Energy Limited, through its wholly owned subsidiary JSW Neo Energy, has signed its first Power Purchase Agreement (PPA) under the SECI-FDRE Tranche IV scheme with the Solar Energy Corporation of India (SECI) for a 230 MW Firm and Dispatchable Renewable Energy (FDRE) project. The agreement has a tenure of 25 years at a tariff of ₹4.98/kWh, and is JSW Energy's first step into the load-following FDRE space, marking a significant milestone in its renewable energy strategy. With the addition of this agreement, the company's under-construction capacity has reached 12.9 GW, bringing its total locked-in generation capacity to 30.2 GW. JSW Energy reiterated its goal of achieving 30 GW of installed generation capacity and 40 GWh of energy storage by 2030, staying aligned with India's renewable energy transition targets. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, commented, 'This milestone underscores JSW Energy's commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers. With this project, we are strengthening our energy products and services offering while supporting the country's energy transition goals.' JSW Energy is among India's leading private power producers, operating across the power value chain with diversified assets in generation and transmission. The company has evolved from a 260 MW thermal base in 2000 to a robust and geographically diverse capacity of over 12.8 GW today. Disclaimer: This article is based on information from a regulatory filing and official press release by JSW Energy dated July 25, 2025. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
