Shoppers Stop rises on entering into Master Rent agreement with M/s OPC Asset Solutions
Shoppers Stop is currently trading at Rs. 825.65, up by 10.30 points or 1.26% from its previous closing of Rs. 815.35 on the BSE.
The scrip opened at Rs. 800.55 and has touched a high and low of Rs. 827.35 and Rs. 800.55 respectively. So far 537 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 889.75 on 09-Aug-2023 and a 52 week low of Rs. 574.85 on 18-Apr-2023.
Last one week high and low of the scrip stood at Rs. 889.75 and Rs. 779.45 respectively. The current market cap of the company is Rs. 9026.80 crore.
The promoters holding in the company stood at 65.46%, while Institutions and Non-Institutions held 28.20% and 6.34% respectively.
Shoppers Stop has entered into a Master Rent agreement with M/s OPC Asset Solutions, for renting of Information Technology (IT) Assets, vide agreement executed by the Company on August 14, 2023. Master Rent Agreement for renting of IT Assets is within the overall facility amount of Rs 30 crore. The renting of IT Assets will be for 3 years from date of supply. Rentals are payable quarterly in advance. Refundable security deposit is 10% and IT Assets will be returned at the end of the 3 years.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.
