PVV Infra is currently trading at Rs. 28.50, up by 4.70 points or 19.75% from its previous closing of Rs. 23.80 on the BSE.
The scrip opened at Rs. 24.10 and has touched a high and low of Rs. 28.55 and Rs. 21.25 respectively. So far 4,48,000 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.55 on 26-Feb-2018 and a 52 week low of Rs. 10.65 on 10-Apr-2017.
Last one week high and low of the scrip stood at Rs. 28.55 and Rs. 16.35 respectively. The current market cap of the company is Rs. 14.25 crore.
The promoters holding in the company stood at 12.44%, while Institutions and Non-Institutions held 6.69% and 80.87% respectively.
PVV Infra has entered into a Memorandum of Understanding (MoU) with Government of Andhra Pradesh (AP) on February 25, 2018, for development of self-sustaining Eco-city with a walk-to-work environment that provide affordable housing to Economically Weaker Sections (EWS) and Lower Income Group (LIG), create jobs under both direct and indirect employment with specified MSME activities, caters to social, educational, medical and recreational and other needs resulting in ultimate overall economic growth.
Accordingly PVV Infra will get AP State Government support by way of number of fiscal, tax and quantitative incentives like exemption from building license fee, Infrastructure deposit, Land Use Conversion Charges, NALA charges for land use modification, City Level Impact Fee and certain infrastructure facilities. The EWS and LIG beneficiaries will benefit from affordable housing with excellent eco-friendly infrastructure facilities and fiscal incentive by way of Exemptions of Stamp Duty, Registration Charges, and additional subsidy from AP state government in addition to existing benefits of PMAY scheme.
PVV Infra is proposing to develop Economic City on 26 acres of land located in CRDA area, in Kanchikacharla (near Vijayawada City) in Krishna Dist, AP which includes construction of 3,840 affordable houses in 28 numbers of towers with a built-up area consisting of 15,42,265 SFT over a period of 3 years with a revenue generation of Rs 387 crore and income arising from this scheme is exempted from Income tax as per PMAY scheme.
PVV Infra provides engineering, designing, planning, and execution of infrastructure work. The Company owns, builds, operates, and transfers power generating plants. PVV Infra also constructs houses, industrial parks, multiplexes, shopping complexes, and townships.
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