Page 2 - Lifespace Developers News Today

On Thursday, 2354 stocks advanced, 1504 declined, and 105 remained unchanged on BSE with an advance decline ratio of 1.56, indicating a positive closing of stocks in broader markets.

In a dynamic trading session on Friday, the Nifty managed to recover, reclaiming the 21,790 mark, while the Sensex recorded modest gains of approximately 150 points. However, the broader market indices, particularly the midcap and smallcap indices, faced downward pressure, each declining by 1%.

On Wednesday, 2245 stocks advanced, 1633 declined and 81 remained unchanged, with an advance decline ratio of 1.37 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.

Mahindra Lifespace: The developer has approached the National Company Law Tribunal (NCLT) with an application to reduce its equity share capital and provide exit to both the entities. The tribunal has admitted the petition and fixed it for hearing in March.

Mahindra Homes petition states that the company is generating steady cash flows and intends to continue its existing business operations. However, there are no immediate plans of expanding the business or initiating new ventures and therefore it has decided to repatriate surplus funds to shareholders.

Mahindra Lifespace Developers has decided not to undertake a joint development on a nearly 5-acre land parcel in Mumbais western suburb Dahisar owing to significant delays in fulfilment of certain conditions precedent. The company had finalised the terms for this project in October 2021 and the development was estimated to provide around half a million sq ft of carpet area

The Nifty Realty index was trading 0.64 per cent up at 550.55.

The Nifty Realty index was trading 1.54 per cent down at 531.7.

The Nifty Realty index was trading 0.84 per cent up at 539.95.

The Nifty Realty index was trading 0.68 per cent down at 530.45.