Mukand jumps on Rs 673 crore land deal; smallcap stock up 90% from 52-week low
Shares of Mukand Ltd rallied sharply in Thursday's trade after the company entered into an agreement to sell a significant land parcel in Maharashtra.
- Jul 24, 2025,
- Updated Jul 24, 2025 12:38 PM IST
Shares of Mukand Ltd rallied sharply in Thursday's trade after the company entered into an agreement to sell a significant land parcel in Maharashtra. The small-cap stock jumped as much as 18.50 per cent to hit an intraday high of Rs 160.85 on BSE over its previous day's closing of Rs 135.65.
At 10:32 am, the stock was trading 11 per cent higher at Rs 151.50. The stock has been a performer, gaining 13 per cent over the past six months. With today’s spike, the stock is now up 90 per cent from its 52-week low of Rs 84.64.
In a filing to the stock exchanges, Mukand Ltd said the company has executed an agreement for sale on July 23 for the sale of land parcels measuring approximately 17.77 acres together with 50 per cent undivided right, title and interest in the access road measuring approximately 2.73 acres.
The agreement for sale includes the grant of a perpetual non-exclusive right of way over a land parcel measuring 0.16 acres or thereabouts situated at Kalwe and Dighe, in Thane district for a consideration of not less than Rs. 86,980 per square meter, aggregating to approximately Rs 673 crore and has received an advance of Rs 110 crore from the purchaser.
The agreement has been signed with AGP DC Infra Private Limited, a Bengaluru-based company. The deal is subject to approvals from various government authorities and successful completion of technical and other due diligences by the buyer.
"The said sale is not expected to have an impact on the operations of the Company", Mukand Ltd said, adding that it does not constitute sale of an undertaking under section 180(1)(a) of the Companies Act, 2013.
In the broader market, domestic benchmark indices Sensex and Nifty50, opened marginally lower on Thursday, buoyed by corporate earnings and negative global cues. At 10:51 am, the BSE Sensex was trading at 82,534.51.
Shares of Mukand Ltd rallied sharply in Thursday's trade after the company entered into an agreement to sell a significant land parcel in Maharashtra. The small-cap stock jumped as much as 18.50 per cent to hit an intraday high of Rs 160.85 on BSE over its previous day's closing of Rs 135.65.
At 10:32 am, the stock was trading 11 per cent higher at Rs 151.50. The stock has been a performer, gaining 13 per cent over the past six months. With today’s spike, the stock is now up 90 per cent from its 52-week low of Rs 84.64.
In a filing to the stock exchanges, Mukand Ltd said the company has executed an agreement for sale on July 23 for the sale of land parcels measuring approximately 17.77 acres together with 50 per cent undivided right, title and interest in the access road measuring approximately 2.73 acres.
The agreement for sale includes the grant of a perpetual non-exclusive right of way over a land parcel measuring 0.16 acres or thereabouts situated at Kalwe and Dighe, in Thane district for a consideration of not less than Rs. 86,980 per square meter, aggregating to approximately Rs 673 crore and has received an advance of Rs 110 crore from the purchaser.
The agreement has been signed with AGP DC Infra Private Limited, a Bengaluru-based company. The deal is subject to approvals from various government authorities and successful completion of technical and other due diligences by the buyer.
"The said sale is not expected to have an impact on the operations of the Company", Mukand Ltd said, adding that it does not constitute sale of an undertaking under section 180(1)(a) of the Companies Act, 2013.
In the broader market, domestic benchmark indices Sensex and Nifty50, opened marginally lower on Thursday, buoyed by corporate earnings and negative global cues. At 10:51 am, the BSE Sensex was trading at 82,534.51.