Everest Industries gets approval from Karnataka govt for land allotment; Stock tumbles 3%

13 Oct 2022 , 10:40 AM

Everest Industries Limited stock plunges over 3% on during Thursday’s morning trading session as the company announced the allotment of land in Karnataka.

In a regulatory filing, the company said, that  it has received in-principle approval from the Government of Karnataka for allotment of 15 acres of land by KIADB at Immavu Industrial Area, Mysuru District for the purpose of establishment of a manufacturing plant for Fibre Cement Boards / Rapicon Panels.

On Thursday at around 10:39 AM, Everest Industries Ltd is currently trading at Rs847.05 per share down by Rs28 or 3.2% from its previous closing of Rs875.05 per share on the BSE.

The scrip opened at Rs869.10 per share and has touched a high and low of Rs869.10 per share and Rs840 per share respectively so far today. The current market cap of the company is Rs1,374.12 crore.

For feedback and suggestions, write to us at [e-mail]