Latest news with #Mukand
Business Standard
5 days ago
- Business
- Business Standard
Mukand spurts after inking deal to sell land parcel in Thane for Rs 673 crore
Mukand zoomed 8.63% to Rs 147.35 after the company said that it has executed an 'agreement for sale' for selling a land parcel located at Kalwe and Dighe villages in Thane district for a total consideration of Rs 673 crore. The transaction involves the sale of approximately 17.77 acres of land, along with 50% undivided right, title, and interest in an adjoining access road measuring around 2.73 acres, and the grant of a perpetual, non-exclusive right of way over an additional parcel measuring approximately 0.16 acres. The land has been sold for not less than Rs 86,980 per square metre, aggregating to a total consideration of around Rs 673 crore. The company has received an advance payment of Rs 110 crore from the purchaser. The sale is expected to be completed within 30 days after all conditions are met, provided the purchaser is satisfied with the due diligence results. Mukand is a multi-division, multi product conglomerate involved in the manufacture of specialty steel long products and industrial machinery. The company produces special alloy steel/ stainless steel billets, bars, rods, wire rods and bright bars. The company's consolidated net profit declined 62.48% to Rs 10.90 crore on a 10.67% fall in revenue to Rs 1,106.89 crore in Q4 FY25 as compared with Q4 FY24.
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Business Standard
6 days ago
- Business
- Business Standard
This smallcap steelmaker share skyrockets 19%; what's behind the rally?
Mukand share price: Mukand share price was in demand on Thursday, July 24, 2025, with the scrip rallying up to 18.57 per cent to hit an intraday high of ₹160.85 per share. At 10:34 AM, Mukand share price was trading 10.50 per cent higher at ₹149.90. In comparison, BSE Sensex was trading 0.23 per cent lower at 82,538.32 levels. What sparked the northward rally in Mukand share price? Mukand shares surged after the company announced the execution of an agreement for sale on July 23, 2025, for monetising land assets in Thane district. In an exchange filing, Mukand said, 'We wish to inform you that the Company has executed an Agreement for Sale on July 23, 2025 for the sale of land parcels admeasuring approximately 17.77 acres together with 50 per cent undivided right, title and interest in the access road admeasuring approximately 2.73 acres and for the grant of a perpetual non-exclusive right of way over a land parcel admeasuring 0.16 acres or thereabouts situated at Kalwe and Dighe, in Thane district for a consideration of not less than 86,980 per sq. mtr. aggregating to approximately ₹673 crore and has received an advance of ₹110 crore from the purchaser.' The sale is subject to various approvals from the Government of Maharashtra, Collector of Thane, Gram Panchayat and other authorities, and hinges on due diligence clearance. The company also clarified that the transaction is not expected to affect its operations and does not fall under the scope of section 180(1)(a) of the Companies Act, 2013. Mukand Q1 results Mukand will release its June quarter of financial year 2026 (Q1FY26) consolidated and standalone results on August 8, 2025. About Mukand Mukand Limited, established in 1937, is a prominent Indian manufacturer of specialty steel and heavy machinery. A part of the Bajaj Group, the company operates through a multi-division, multi-product structure. Its Steel Division produces alloy and stainless steel products such as billets, blooms, wire rods, and bars, catering to both domestic and international markets. The Machine Building Division designs and manufactures cranes, material handling systems, and plant equipment, while the Engineering Construction Division offers specialized services across sectors like power, cement, steel, and infrastructure. With over eight decades of operational history, Mukand has evolved from an engineering-focused company into a global player in steel manufacturing. The market capitalisation of Mukand is ₹2,157.32 crore, according to BSE.
Business Upturn
6 days ago
- Business
- Business Upturn
Mukand shares jump 12% after Rs 673 crore land sale agreement in Thane
By Arunika Jain Published on July 24, 2025, 09:31 IST 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 You can write to her at [email protected]
Business Standard
17-05-2025
- Business
- Business Standard
Mukand consolidated net profit declines 62.48% in the March 2025 quarter
Sales decline 10.67% to Rs 1106.89 crore Net profit of Mukand declined 62.48% to Rs 10.90 crore in the quarter ended March 2025 as against Rs 29.05 crore during the previous quarter ended March 2024. Sales declined 10.67% to Rs 1106.89 crore in the quarter ended March 2025 as against Rs 1239.16 crore during the previous quarter ended March 2024. For the full year,net profit declined 26.92% to Rs 75.89 crore in the year ended March 2025 as against Rs 103.85 crore during the previous year ended March 2024. Sales declined 5.50% to Rs 4889.99 crore in the year ended March 2025 as against Rs 5174.81 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 1106.891239.16 -11 4889.995174.81 -6 OPM % 5.886.69 - 5.815.64 - PBDT 37.3955.35 -32 169.03176.55 -4 PBT 24.1343.05 -44 118.30126.83 -7 NP 10.9029.05 -62 75.89103.85 -27
