Lancor Holdings rises on signing LoI for joint development of 48 residential apartments in Chennai

Lancor Holdings is currently trading at Rs. 53.50, up by 0.40 points or 0.75% from its previous closing of Rs. 53.10 on the BSE.

Lancor Holdings
Lancor Holdings

The scrip opened at Rs. 52.25 and has touched a high and low of Rs. 54.90 and Rs. 52.25 respectively. So far 42231 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 63.00 on 04-Mar-2024 and a 52 week low of Rs. 17.80 on 11-May-2023.

Last one week high and low of the scrip stood at Rs. 55.50 and Rs. 49.58 respectively. The current market cap of the company is Rs. 326.47 crore.

The promoters holding in the company stood at 62.08%, while Non-Institutions held 37.92% stake in the company.

Lancor Holdings has signed a Letter of Intent (LoI) for the joint development of around 85000 sq.ft of 48 luxury residential apartments in a prime residential area of Chennai. The implementation of this project will commence soon and company does not expect any challenges to sale and execution of this project.

Lancor Holdings is an India-based company. The Company is engaged in the construction and sale of residential properties, construction and leasing of commercial properties.