Shares of Ansal Properties and Infrastructure were locked in a 5 percent upper circuit at Rs 11.43, which is also the 52-week high for the stock, in the morning trade on BSE on December 31.
The share opened at Rs 11.43 against the previous close of Rs 10.89. The stock jumped a day after the company said it had entered into an agreement to sell its entire shareholding of 66.24 percent in its subsidiary M/s Ansal IT City and Parks Limited (owner of IT Park of 37.5 acres of land at Greater Noida) to M/s Mahaluxmi Infrahome Private Limited (part of Migsun Group).
This will reduce the debt of the company on a consolidated basis by Rs 11 crore, the company's regulatory filing said.
The company also said it had reduced its debts/liabilities towards banks/financial instructions, etc. by about Rs 500 crore on a consolidated basis in this calendar year 2020.
