Omaxe shines as its arms get LoI to develop Residential Colony in Punjab
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Omaxe is currently trading at Rs. 129.90, up by 4.00 points or 3.18% from its previous closing of Rs. 125.90 on the BSE.
The scrip opened at Rs. 124.80 and has touched a high and low of Rs. 131.00 and Rs. 123.80 respectively. So far 22691 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 143.60 on 11-Jul-2024 and a 52 week low of Rs. 42.39 on 29-Aug-2023.
Last one week high and low of the scrip stood at Rs. 132.00 and Rs. 120.05 respectively. The current market cap of the company is Rs. 2313.69 crore.
The promoters holding in the company stood at 74.14%, while Institutions and Non-Institutions held 9.48% and 16.38% respectively.
Omaxe’s wholly owned subsidiaries have received Letter of Intent (LoI) from Amritsar Development Authority (ADA) for developing a Residential Colony namely ‘Omaxe New Amritsar Integrated Township’ at Amritsar, Punjab.
The receiving the Letter of Intent from the authority represents a pivotal development for the Company, marking a significant advancement. This milestone opens avenues for revenue generation and expansion in the Amritsar region. The introduction of the proposed Omaxe New Amritsar Integrated Township (pending License approval) to consumers is expected to not only satisfy demand but also stimulate growth and improve the company’s overall performance.
Omaxe is an India-based company engaged in real estate and infrastructure businesses. The Company operates in two segments Real estate and Construction.
