Promoters bought 1,29,00,000 shares of this multibagger penny stock; Company signs MoU worth Rs 1,000 with Brigade Enterprises; scrip hit upper circuit & 52-week high!
The stock gave multibagger returns of 155 per cent in just 6 months, 265 per cent in 1 year and a whopping 1,575 per cent in 3 years.
PVP Ventures Ltd has executed a joint development agreement (JDA) with Brigade Enterprises Ltd for a residential project in the heart of Chennai. With this, PVP has fast-tracked the monetization of its prized land assets in the Chennai region. This development is expected to be amongst the largest residential projects in central Chennai. The project will encompass over 25 lakh square feet of residential inventory reflecting Brigade’s design excellence and construction standards.
As per the terms of the JDA, PVP Ventures Ltd., will not incur any costs towards the development and is contracted to receive a 40 per cent share of the revenue emanating from the entire sales of the project. The company expects its share of cash flows from this project to be more than Rs 1,000 crore over a 5-year time frame.
About PVP Ventures Ltd, is a company with a legacy realty asset in Chennai, India. By leveraging this asset, as well as tapping into the group’s resources, the firm is embarking upon its journey in the domestic Technology-enabled Healthcare Services market. This is being done with the view to creating long-term shareholder value. With the most recently announced endeavours in both segments i.e., realty and healthcare services, the company hopes to create sustainable value enhancement for its stakeholders.
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About Brigade Enterprises Ltd, established in 1986, is one of India’s leading property developers with over three decades of expertise in building positive experiences for all their stakeholders and winning their customers’ trust. Brigade Ltd has developed many landmark buildings and transformed skylines across cities – Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
On Friday, shares of PVP Ventures Ltd hit a 5 per cent upper circuit to Rs 26.26 per share from its previous closing of Rs 25.01. The stock also made a fresh 52-week high of Rs 26.26 while its 52-week low is Rs 5.63. In December 2023, the promoters of the company bought 1,29,00,000 shares to 61.40 per cent from 59.39 per cent in September 2023.
The company has a market cap of Rs 683.82 crore. The stock gave multibagger returns of 155 per cent in just 6 months, 265 per cent in 1 year and a whopping 1,575 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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