Penny Stock Under Re 1: Maharashtra Corporation Completes Land Registration for Ahmedabad Project
Maharashtra Corporation Ltd announces completion of land registration for its commercial project in Ahmedabad, a city experiencing robust growth in real estate.
Penny StockMaharashtra Corporation LtdReal EstateAhmedabadCommercial ProjectReal EstateAug 11, 2024
Upon completion, the proposed commercial project is expected to span approximately 1,20,000 square feet. It will cater to a diverse clientele by offering retail showrooms, professional office spaces, hospitals, clinics, and lifestyle establishments, in alignment with current market trends. The property enjoys a prime location in Ahmedabad, with a direct view of a 120-foot-wide road and proximity to the Sardar Vallabhai Patel Stadium.
Ahmedabad’s real estate market is experiencing robust growth in both residential and commercial segments, driven by its strategic location and favourable business climate. The company is optimistic about the project’s success given the thriving Ahmedabad real estate market.
Maharashtra Corporation Limited is a publicly traded company incorporated in 1982. Initially focused on investing, trading, and distributing textiles, agro commodities, and other goods, the company has expanded its operations. In 2022, it secured shareholder approval to venture into real estate development, including purchasing properties, constructing residential, commercial, and industrial spaces, and subsequently selling or leasing them. This strategic shift positions the company for growth in the real estate sector while continuing its established trading activities.
On Friday, shares of Maharashtra Corporation Ltd ended the day at Re 0.79 per share, the same as its previous closing price with an intraday high of Re 0.81 and an intraday low of Re 0.78. This company has a market cap of Rs 49.05 crore where promoters own 16.62 per cent and the rest 83.38 per cent stake is owned by the public shareholders.
Frequently Asked Questions
What is the market capitalization of Maharashtra Corporation Ltd?
Rs 49.05 crore
What is the percentage of stake owned by promoters in Maharashtra Corporation Ltd?
16.62 per cent
What is the expected size of the commercial project in Ahmedabad?
approximately 1,20,000 square feet
What is the location of the commercial project in Ahmedabad?
Naranpura, with a direct view of a 120-foot-wide road and proximity to the Sardar Vallabhai Patel Stadium
What is the current share price of Maharashtra Corporation Ltd?
Re 0.79 per share
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