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Marathon Nextgen rises on plan to acquire ‘Marathon FutureX IT Park’

05 Jan 2018

Marathon Nextgen Realty is currently trading at Rs. 635.00, up by 3.80 points or 0.60% from its previous closing of Rs. 631.20 on the BSE.

The scrip opened at Rs. 634.50 and has touched a high and low of Rs. 642.00 and Rs. 626.05 respectively. So far 464 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 669.50 on 01-Jan-2018 and a 52 week low of Rs. 195.00 on 05-Jan-2017.

Last one week high and low of the scrip stood at Rs. 669.50 and Rs. 555.00 respectively. The current market cap of the company is Rs. 1476.60 crore.

The promoters holding in the company stood at 74.97%, while institutions and non-institutions held 0.02% and 25.01% respectively.

Marathon Nextgen Realty has received an approval for acquisition of ‘Marathon FutureX IT Park’ business owned by Marathon Realty, a related party. The acquisition is expected to be completed by end April 2018 and the lump sum consideration is Rs 93 crore. This acquisition will be subject to the required approvals being obtained including that of the shareholders of the company under section 188 of the Companies Act 2013.

Marathon Nextgen Realty focuses on residential and commercial segments. The company’s JV projects include Marathon Monte Carlo, Mulund, which is a residential suit; Marathon Monte Vista, Mulund, which is a 33 story residential tower, and Marathon Monte Plaza, Mulund, which includes retail and offices.

Related Marathon Nextgen Realty Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323