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Lancor Holdings extends gain for 4th straight day, shares rise nearly 9% on MoU for redevelopment project
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2 min read | Updated on August 23, 2024, 17:05 IST
SUMMARY
Lancor Holdings announces that it has signed an MoU with the proprietors of the "Lancor Ananya" redevelopment project, which has a total built-up area of 85,337 sqft. The project is located in a prime residential district of the city.
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Lancor Holdings extends gain for 4th straight day, shares rise nearly 9% on MoU for redevelopment project in Chennai
In a filing to the stock exchange on August 23, the company said that it has signed an MoU with the proprietors of the Lancor Ananya redevelopment project, which has a total built-up area of 85,337 sqft. The project is located in a prominent residential district of the city, the company informed the bourses.
Shares Lancor Holding opened almost flat at ₹45 apiece on the NSE and rallied as much as 8.89% from its previous close to hit an intraday high of ₹48.98 apiece. The stock closed 4.29% higher at ₹46.91 apiece on the NSE, extending the gains for the fourth straight day.
Last month, on July 18, the company said that the Banking Finance and Operations committee approved the allotment of 551 Non-Convertible Debt (NCDs) with a face value of ₹1 lakh apiece on a private placement basis. The company raised ₹5.51 crore through the NCDs.
The company's paid-up share capital before and after the allocation of NCDs stood at ₹14,59,91,120, made up of 7,29,95,560 equity shares of ₹2 each.
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