Omaxe share price: The project has received RERA registration and all required approvals. In its first phase, the is offering residential plots in sizes of 300, 500, and 1,000 square yards.
Stocks to Watch, Mar 10: Stocks like India Pesticides, HFCL, NDR Auto Components, JSW Steel, GR Infraprojects, Biocon, Oil and Natural Gas Corporation, Container Corporation of India, Thangamayil Jewellery, Hinduja Global Solutions, IRB Infrastructure Developers, and AstraZeneca Pharma will be in focus on March 10.
Stocks to Watch, Mar 7: Stocks like Tamilnad Mercantile Bank, NMDC, Jindal Stainless, Sudarshan Pharma Industries, Brigade Enterprises, Rail Vikas Nigam, RITES, Laurus Labs, Bharat Electronics, InterGlobe Aviation, Firstsource Solutions, TCPL Packaging, Avanti Feeds, Campus Activewear, and Balaji Phosphates will be in focus on March 7.
The initiative will eye Joint Ventures, collaboration and development through Public-Private Partnerships (PPP) in spaces where infrastructure gaps exist, and can potentially drive socio-economic growth.
The fraud was never disclosed to the shareholders of Omaxe, which misled them to remain invested in its shares or deal in its securities.
The Omaxe State in Dwarka Sector 19B is expected to be completed by 2027 and will have a revenue development potential of Rs 4,200 crore. The project will be India’s first integrated 5-in-1 destination with sports, retail, hospitality, food and culture arena featuring a state-of-the-art cricket-cum-football stadium.
The Sebi order had a negative impact on the company's share prices. The stock of the company on Wednesday declined 4.99 per cent to Rs 152.20 apiece -- its lower circuit limit -- on the BSE.
These Bus Terminals in Ayodhya and Lucknow will be developed under design, build, finance, operate and transfer (DBFOT) model on PPP basis.
The Omaxe board also approved re-appointment of Mohit Goel as Managing Director of the company for a period of five years with effect from April 1, 2024 to March 31, 2029 subject to the approval of shareholders.
Omaxe has secured new financial assistance totalling Rs 450 crore from Kotak Mahindra Bank Limited and out of this amount, Rs 290 crore has been utilized to repay the facility initially obtained from Varde Partners and the remaining Rs 160 crore will be allocated for development of its projects.