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Eldeco Housing surges on getting nod to enter into MoU with Eldeco Infrastructure

28 Aug 2019

Eldeco Housing is currently trading at Rs. 1941.00, up by 41.00 points or 2.16% from its previous closing of Rs. 1900.00 on the BSE.

The scrip opened at Rs. 1857.25 and has touched a high and low of Rs. 1941.00 and Rs. 1857.25 respectively. So far 2 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 2300.00 on 09-Aug-2019 and a 52 week low of Rs. 925.00 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 2000.00 and Rs. 1840.00 respectively. The current market cap of the company is Rs. 381.72 crore.

The promoters holding in the company stood at 54.83%, while Non-Institutions 45.17%.

Eldeco Housing & Industries has received an approval to enter into a Memorandum of Understanding (MoU) with Eldeco Infrastructure and Properties (EIPL) wherein, it is proposed to advance a sum not exceeding Rs 27.50 crore to EIPL upon which the Company shall be entitled for two-third (2/3rd) surplus of EIPL's entitlement in the surplus arising from an upcoming residential township project at Bareilly, Uttar Pradesh (to be developed by a subsidiary of EIPL i.e. Eldeco Infrabuild) subject to repayment of the sum advanced along with minimum interest of 8% p.a. on the sum advanced. The Board of Directors of the company at its meeting held on August 27, 2019 have approved the same.

Eldeco Housing & Industries has a presence in all the major real estate classes - multi-storey group housing, residential townships, shopping malls, industrial parks, SEZs, office buildings and hotels.

Related Eldeco Housing & Industries Ltd. Links:

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