Shriram Properties gains on entering into development management agreement with Meru Parvat Structure
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Shriram Properties is currently trading at Rs. 70.20, up by 0.35 points or 0.50% from its previous closing of Rs. 69.85 on the BSE.
The scrip opened at Rs. 70.05 and has touched a high and low of Rs. 70.95 and Rs. 69.70 respectively. So far 6331 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.75 on 20-Jan-2022 and a 52 week low of Rs. 59.60 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 74.30 and Rs. 68.45 respectively. The current market cap of the company is Rs. 1193.15 crore.
The promoters holding in the company stood at 28.00%, while Institutions and Non-Institutions held 50.41% and 21.59% respectively.
Shriram Properties is entering into a development management agreement with Meru Parvat Structure for development of residential plots admeasuring 0.47 Mn sft at Malur Bagalur road in Bangalore. In connection with the above, the company is required to give a corporate guarantee on behalf of DM Partner - Meru Parvat Structure.
Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories
