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Lodha Group-owned Macrotech Developers is paying around Rs 890 crore to acquire the hotel property in Juhu, an affluent suburb in western Mumbai. The bankrupt hotel company had admitted liabilities of over Rs 2,500 crore. Financial lenders of V Hotels had in June 2023 approved Macrotechs resolution plan with all voting in its favour.
Stock Market Today: Godrej Properties, Mahindra Lifespace, Lodha, DLF others rise up to 4.3% as Nifty Realty Index remains the largest gainer, up 1.43% post RBI MPC outcome, that kept interest rates unchanged. Should you Buy Sell or Hold the stocks?
Sensex was up 20.59 points or 0.03% at 74,248.22, and the Nifty was up 10.80 points or 0.05% at 22,525.50.
Genesis BCW (three), Aditya Birla Group (two), Weber Shandwick (two), Archetype, Avian WE, Chase India, Egis, Godrej & Boyce, Media Mantra, On Purpose, Siemens Healthineers and Sony Sports Network also among the Gold winners
Winners to be announced on 10 October