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.
