Forbes & Company gains on executing agreement for sale of land
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Forbes & Company is currently trading at Rs. 424.00, up by 1.05 points or 0.25% from its previous closing of Rs. 422.95 on the BSE.
The scrip opened at Rs. 429.70 and has touched a high and low of Rs. 430.00 and Rs. 420.00 respectively. So far 3388 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 487.73 on 10-Jan-2022 and a 52 week low of Rs. 112.68 on 27-Apr-2021.
Last one week high and low of the scrip stood at Rs. 444.80 and Rs. 403.00 respectively. The current market cap of the company is Rs. 546.06 crore.
The promoters holding in the company stood at 73.85%, while Institutions and Non-Institutions held 13.01% and 13.15% respectively.
Forbes & Company has executed new Agreement For Sale (AFS) with Equinix India (Equinix) for sale of around 15,394.50 square meters of land at Chandivali for an increased consideration of Rs 235 crore on March 24, 2022. The completion of the said Transaction subject to fulfilment of conditions precedent is expected to be completed in Q1 of FY 2022-2023.
Forbes & Company has three main businesses; namely engineering, shipping and logistics and business automation.
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