Mahindra Lifespaces stay flat despite signing MoU with SBI

Mahindra Lifespaces and State Bank of India (SBI) today signed a memorandum of understanding (MoU) to enable an improved and more seamless experience for homebuyers across India. This agreement includes various co-promotional activities and outreach initiatives. The employees and customers of SBI & Mahindra Lifespaces will be able to avail the benefits of faster home loan processing & approvals along with special discounts and schemes. 

Reacting to this, the stock of Mahindra Lifespaces today jumped 2.44 per cent and made an intraday high of Rs 396.25 per share. 

The stock of Mahindra Lifespaces has recovered by 131.45 per cent from its sharp decline in May 2020. In the last two months, the company has gained nearly 41.81 per cent. 

Mahindra Lifespace Developers Ltd was established in 1994. It is a real estate & infrastructure development company of Mahindra Group and a pioneer of sustainable urbanisation in India. 

According to BSE data, its stock traded at a price-to-book ratio of 1.33. The stock has a 52-week high and a 52-week low of Rs 428.25 and Rs 171.20, respectively. 

At the time of market closing on Tuesday, the stock of Mahindra Lifespaces was trading at Rs 394.55, up by 2 per cent on BSE.