The impact of the third wave of Covid on economic momentum may lower growth in the second half of the current fiscal (H2FY22).
The consideration for this acquisition is set as an upfront payment plus performance and milestone-based earn-outs over the next four years.
The company has also extended the lay-off period of 03 workmen out of 78 workmen till April 15, 2022, at the same unit.
The accepted offer of the Project is Rs692.50 crore.
The Company intends to fund the investment through cash on the balance sheet.
Sunteck Realty led the charge by surging over 6.6% at Rs474 per piece.
The credit rating agency has reaffirmed the rating on the short-term commercial paper program.
The project is in the Ahmednagar district of Maharashtra on EPC mode.
Markets made massive gains due to positive cues with all sectoral indices trading in the green. Also, the performance comes as markets enter into the March futures & options (F&O) series.
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