Transindia Real Estate moves up on acquiring 100% stake in Transindia Freight Services
Transindia Real Estate is currently trading at Rs. 50.38, up by 0.24 points or 0.48% from its previous closing of Rs. 50.14 on the BSE.
The scrip opened at Rs. 50.15 and has touched a high and low of Rs. 51.25 and Rs. 50.05 respectively. So far 82766 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 60.40 on 01-Mar-2024 and a 52 week low of Rs. 32.35 on 25-Aug-2023.
Last one week high and low of the scrip stood at Rs. 51.64 and Rs. 46.78 respectively. The current market cap of the company is Rs. 1249.61 crore.
The promoters holding in the company stood at 69.13%, while Institutions and Non-Institutions held 8.50% and 22.38% respectively.
Transindia Real Estate has acquired 100% equity shares of Transindia Freight Services (TFSPL), Promoter Group Company from Shashi Kiran Shetty and Arathi Shetty Promoters, a related party of the company. TFSPL has now become Wholly Owned subsidiary of the company.
The acquisition and management of operating real estate properties is within the scope of its main line of business and in pursuance of expanding its warehousing business. This expansion is consistent with the company's overarching goals and does not represent a departure from its established operations. The acquisition is done at purchase consideration of Rs 5.81 crore.
Transindia Real Estate is engaged in the business of Leasing of land and Commercial Properties, Logistics Park, Warehousing, real estate development and leasing activities, Engineering and equipment hiring solutions and other related businesses.
