Ansal Properties shares locked in 5% upper circuit, hits 52-week high

The company claimed it had reduced its debts/liabilities towards banks/financial instructions, etc. by approximately Rs 500 crore on a consolidated basis in this calendar year 2020.

December 31, 2020 / 11:03 AM IST
Representative image | Source: Pixabay

Representative image | Source: Pixabay

 
 
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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.
Moneycontrol News
first published: Dec 31, 2020 11:03 am

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