VST Ind gains 5% after selling 2.7 acre land for Rs 101.7 cr in Hyderabad

VST Industries shares rose 5.3  per cent in trade and logged an intraday high of Rs 304 per share on BSE. The scrip rallied after the company sold 2.7 acres of land situated in Hyderabad for Rs 101.7 crore.

 

Around 12:09 PM, VST Industries' share price was up 2.46 percent at Rs 321.15 per share on BSE. In comparison, the BSE Sensex was up 1.49 per cent at 80,297.20. The market capitalisation of the company stood at Rs 5,455.09 crore. The 52-week high of the company was at Rs 486.70 per share and the 52-week low was at Rs 292.36 per share.

 

"We hereby inform that VST Industries Ltd has sold an immovable property today, i.e., November 22, 2024 to M/s. ViNS Bioproducts Ltd and others admeasuring around 2.7 acres of land along with structures situated in Plot Nos. 7 & 15, Plot No. 8, Plot No. 9 and Plot No. 10 at Panjagutta, Banjara Hills, Hyderabad, Telangana by executing and registering sale deeds," the filing read. 

 

The land was sold to ViNS Bioproducts Ltd and Kushboo Mundra/ Jaya Shridas Daga.

 

VST Industries Ltd is an Indian company that primarily operates in the tobacco industry. Established in 1990, it is a leading manufacturer of cigarettes and other tobacco products in India. The company is a part of the VST Group, and its products include a wide range of cigarettes, beedis, and other related tobacco items.  VST Industries is known for its strong brand portfolio, which includes popular brands of cigarettes that cater to various market segments. Headquartered in Hyderabad, the company focuses on both domestic and export markets. 

 

VST Industries also engages in diversified business activities, including the manufacture of electrical goods, but its core business remains in the tobacco industry. The company is listed on Indian stock exchanges and has maintained a strong presence in the market due to its focus on quality, innovation, and brand development.

 

In the past one year, VST Industries shares have gained 5.1 per cent against Sensex's rise of 20 per cent.