RPG Life surges on sale of surplus land at Navi Mumbai

Shares of RPG Life Sciences were up nearly 8% at Rs 70.55 in early trades after the company late Thursday announced that it has sold part of its land at Navi Mumbai.

RPG Life Sciences has sold the leasehold rights on its surplus land admeasuring 14,148.90 square metres, situated at TTC Industrial Area, Village Pawane, Navi Mumbai to Maruti Suzuki India, for a consideration of Rs 76.91 crore, the company said in a release.

The company acquired a land admeasuring 48,632 square metres on 95 years lease from Maharashtra Industrial Development Corporation. Of this, part of the land admeasuring 14,148.90 square metres was surplus land, the release added.

Over 15,800 shares were traded on both the stock exchanges so far.