RPG Life Sciences has soared 14% to Rs 66 in noon deals after the company said it has executed Memorandum of Understanding (MOU) with Maruti Suzuki India for sale of part of land situated at Navi Mumbai subject to conclusion on fulfillment of terms and conditions.
The company said it shall make a formal announcement only on execution of a definitive sale agreement for sale of land.
“As a part of due diligence, Maruti Suzuki India through their advocates has issued a public notice on April 10, 2013 in the leading news papers seeking comments and objections for proposed purchase of the situated at MIDC, Navi Mumbai,” RPG Life Sciences said in a BSE filing.
RPG Life Sciences has made the clarification on news report that the pharmaceutical company is in pact to sell on lease rights of Navi Mumbai land to Maruti Suzuki India.
The stock opened at Rs 61 and hit a high of Rs 69 on BSE. A combined 84,820 shares changed hands on the counter on BSE and NSE till 1502 hours.
The company said it shall make a formal announcement only on execution of a definitive sale agreement for sale of land.
“As a part of due diligence, Maruti Suzuki India through their advocates has issued a public notice on April 10, 2013 in the leading news papers seeking comments and objections for proposed purchase of the situated at MIDC, Navi Mumbai,” RPG Life Sciences said in a BSE filing.
RPG Life Sciences has made the clarification on news report that the pharmaceutical company is in pact to sell on lease rights of Navi Mumbai land to Maruti Suzuki India.
The stock opened at Rs 61 and hit a high of Rs 69 on BSE. A combined 84,820 shares changed hands on the counter on BSE and NSE till 1502 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%