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Nitesh Estates shines on inking partnership agreement with Goldman Sachs

15 May 2015 Evaluate

Nitesh Estates is currently trading at Rs. 16.74, up by 0.73 points or 4.56% from its previous closing of Rs. 16.01 on the BSE.

The scrip opened at Rs. 17.45 and has touched a high and low of Rs. 17.55 and Rs. 16.34 respectively. So far 3,48,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.70 on 9-June-2014 and a 52 week low of Rs. 9.30 on 12-Dec-2014.

Last one week high and low of the scrip stood at Rs. 17.55 and Rs. 13.15 respectively. The current market cap of the company is Rs. 243.98 crore.

The promoters holding in the company stood at 46.51% while Institutions and Non-Institutions held 26.11% and 28.38% respectively.

Nitesh Estates has completed the partnership platform agreement signing (MOU) with Goldman Sachs, a leading global financial institution to jointly invest / acquire income producing office buildings, Shopping Malls and Luxury Hotels across India.

Under this platform arrangement, Goldman Sachs will make investments through Nitesh Estates SPVs, Associates, Subsidiaries, JVs etc., as the case may be asset class wise. This partnership is a significant development to the company and will increase the asset base of the company in next 3 to 5 years.

Nitesh Estates is a leading integrated property development company headquartered in Bangalore. The company provides world-class products and services and has presence across four asset class - Homes, Hotels, Office Buildings, and Shopping Malls.

 

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