Lancor Holdings gains on getting nod to borrow up to Rs 130 crore from SBI

15 Jan 2018 Evaluate

Lancor Holdings is currently trading at Rs. 36.45, up by 0.05 points or 0.14% from its previous closing of Rs. 36.40 on the BSE.

The scrip opened at Rs. 36.50 and has touched a high and low of Rs. 36.50 and Rs. 35.60 respectively. So far 2595 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 2 has touched a 52 week high of Rs. 45.00 on 29-Nov-2017 and a 52 week low of Rs. 24.60 on 27-Sep-2017.

Last one week high and low of the scrip stood at Rs. 40.25 and Rs. 35.30 respectively. The current market cap of the company is Rs. 145.60 crore.

The promoters holding in the company stood at 62.08%, while Non-Institutions held 37.92% stake in the company.

Lancor Holdings has received an approval to borrow up to a total sum of Rs 130 crore from State Bank of India (SBI), Chennai.  The Board of Directors of the company at their meeting held on January 13, 2018, approved the same.

The said borrowing is in connection with the promotion of the company’s projects - TCP Altura and Lumina, both projects being located in Chennai.

The aggregate development value of the both the projects will lead to revenue of Rs 360 crore approximately, which will be realized over the next 24 to 30 months.

Lancor Holdings is a professionally managed property development company, acquiring the business interest of erstwhile DBS Properties and is engaged principally in development of properties in Chennai, Bangalore and Coimbatore.

Lancor Holdings Share Price

50.61 0.87 (1.75%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Dilip Buildcon 456.85
Macrotech Developers 1133.75
NBCC (India) 119.05
Prestige EstatesProj 1177.50
DLF 898.30
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.