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Schrader Duncan rallies on conclusion of Mulund land sale

Total amount of sale consideration is Rs 43.88 crore, balance payment amount Rs 21.93 crore was received on June 22, 2012

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Schrader Duncan has soared 13% to Rs 85 in noon trades after the company has concluded the sale of company’s Mulund land and received the balance payment amount Rs 21.93 crores on June 22, 2012.

“The sale of company’s Mulund land has been concluded on June 22, 2012, the sale consideration has been received in full and possession of the said land has been handed over to the purchaser,” said in a filing.

“Total amount of sale consideration is Rs 43.88 crore, balance payment amount Rs 21.93 crore is received on June 22, 2012, it added.

Around 2,400 shares have changed hands on the counter so far on the Bombay Stock Exchange.

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