01-01-1970 12:00 AM | Source: Accord Fintech
Godrej Properties surges on acquiring entire stake in Ashank Land & Building
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Godrej Properties is currently trading at Rs. 1345.15, up by 43.65 points or 3.35% from its previous closing of Rs. 1301.50 on the BSE.

The scrip opened at Rs. 1330.00 and has touched a high and low of Rs. 1349.25 and Rs. 1325.10 respectively. So far 11051 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2598.00 on 14-Oct-2021 and a 52 week low of Rs. 1253.55 on 20-May-2021.

Last one week high and low of the scrip stood at Rs. 1425.35 and Rs. 1292.00 respectively. The current market cap of the company is Rs. 37283.76 crore.

The promoters holding in the company stood at 58.43%, while Institutions and Non-Institutions held 32.94% and 8.63% respectively.

Godrej Properties along with its wholly owned subsidiary -- Godrej Projects Development -- has acquired 100% issued and paid-up share capital of Ashank Land & Building (ALBPL). Pursuant to the said acquisition, ALBPL has become a subsidiary of the Company with effect from May 19, 2022.

Acquisition is done in accordance with the Share Purchase agreement entered into with the shareholders of ALBPL to undertake real estate business. Cost of acquisition is Rs 10,000.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.