Ceramic Tile Manufacturer Has Entered Into A Purchase Agreements For Properties Situated At Ghatkopar
The stock also made a new 52-week high of Rs 177.95 per share and gave multibagger share returns of 143 per cent from its 52-week low of Rs 73.10 per share.
Manoj Ceramic Limited has announced that it has entered into purchase agreements for properties located in Ghatkopar. The agreements were executed with HS Chetana Enterprises NX LLP, primarily for the acquisition of properties in the area. The total value of the agreements is approximately Rs 4.16 crore. Notably, there is no existing shareholding in HS Chetana Enterprises NX LLP. The key terms of the agreements include special rights like the right to appoint directors, first rights to share subscriptions, and the right to restrict changes in the capital structure.
The properties involved in the acquisition are Flat 101, Flat 1204, and Flat 1601, each measuring 669.45 square meters. Importantly, there is no relationship between the parties and Manoj Ceramic Limited's promoters, promoter groups or group companies. Consequently, these transactions do not fall under related party transactions. As there are no share issuances or loan agreements involved, sections related to these aspects are not applicable. Lastly, there are no additional disclosures required regarding nominees on the board, potential conflicts of interest, or termination/amendment of the agreements.
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About the Company
Manoj Ceramic Limited, established in 1991, deals in ceramic tiles and adhesives under the brand "MCPL." They operate through a dealer network and retail showrooms in western and southern India and offer online tile selection via their AI software "Studio" on MCPLworld.com. Interestingly, the company gets the tiles manufactured by a third party but sources and distributes tile adhesives themselves. They recently made their first forays into exporting tiles and even established a subsidiary company in London, UK.
The company has a market cap of Rs 146.6 crore. On Friday, shares of Manoj Ceramic Limited jumped 8.31 per cent to Rs 175.95 per share with an intraday high of Rs 177.95 and an intraday low of Rs 163.50. The shares of the company saw a spurt in volume by more than 1.41 times on BSE. The stock also made a new 52-week high of Rs 177.95 per share and gave multibagger share returns of 143 per cent from its 52-week low of Rs 73.10 per share.
Disclaimer: The article is for informational purposes only and not investment advice.