Batliboi rises 18% on conclusion of land deal in Mumbai

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Moneycontrol BureauShares of Batliboi rose nearly 18 percent intraday Monday on the back of sale of two land parcel.The company has concluded the process of sale of its land situated at plot no. 25/26, Deonar Ancillary Estate, Govandi (West), Mumbai.Also, the company has entered into memorandum of understanding (MOU) for sale of its industrial land situated at Plot No. 24, Veerasandra Industrial Area, AttibeleHobli, Anekal Taluka, Bangalore district."The above mentioned transactions are not related party transactions and the buyer is not related to the promoter/promoter group/ key managerial personnel," the company said in its press release.The company's board meeting will be held on May 06, 2016, to consider and approve the audited financial results for the year ended March 31, 2016.At 13:35 hrs Batliboi was quoting at Rs 24.55, up Rs 3.65, or 17.46 percent on the BSE.Posted by Rakesh Patil