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Pudumjee Pulp & Paper Mills rises on executing agreements to pick 50% stake in GTPL

03 Jan 2017 Evaluate

Pudumjee Pulp & Paper Mills is currently trading at Rs. 21.65, up by 0.55 points or 2.61 % from its previous closing of Rs. 21.10 on the BSE.

The scrip opened at Rs. 22.00 and has touched a high and low of Rs. 22.50 and Rs. 21.50 respectively. So far 1711 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 28.60 on 04-Nov-2016 and a 52 week low of Rs. 14.00 on 13-Jun-2016.

Last one week high and low of the scrip stood at Rs. 22.50 and Rs. 19.80 respectively. The current market cap of the company is Rs. 89.59 crore.

The promoters holding in the company stood at 61.51%, while Institutions and Non-Institutions held 0.01% and 38.48% respectively.

Pudumjee Pulp & Paper Mills has executed a Share Purchase Agreement / Shareholders’ Agreement with GCorp Developers for acquisition of 50% equity shares of GCORP Township, a Special Purpose Vehicle (GTPL). GTPL is engaged in the business of real estate development. The acquisition will enable the company to expand its real estate business in around Bombay, namely Kalyan etc. The acquisition is being made at a face value of Rs 10 per equity share aggregating to Rs one crore and fifty thousand only.

Pudumjee Pulp & Paper Mills is engaged in the business of real estate and sale of wind power. The company’s segments include Construction, Power and Other.

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