Shares of Mukand Ltd surged nearly 12% in early trade on Thursday to ₹152.02, following the company’s announcement that it has signed an agreement to sell land parcels in Kalwe and Dighe, Thane for a total consideration of approximately ₹673 crore.
The stock opened at ₹141.49 and rallied to an intraday high of ₹162, before trading near ₹152 at 9:20 am. This compares to the previous close of ₹135.75. Trading volumes were robust, with over 7 lakh shares changing hands on the NSE.
Mukand informed the stock exchanges that the agreement for sale was executed on July 23, 2025, with AGP DC Infra Private Limited for around 17.77 acres of land, including a 50% undivided share in an access road and non-exclusive rights over an additional 0.16-acre parcel.
The sale price has been fixed at no less than ₹86,980 per sq. metre, and the company has already received an advance payment of ₹110 crore. The transaction is subject to regulatory approvals, fulfilment of certain conditions precedent, and due diligence by the buyer.
Mukand clarified that this land sale will not impact its operations and does not constitute a sale of an undertaking under Section 180(1)(a) of the Companies Act, 2013.
The proceeds are expected to help the company unlock value from non-core assets and support its financial strategy, though the exact impact on earnings will depend on the final valuation and completion timeline.
This land monetisation move has been well received by the market, pushing Mukand’s stock close to its 52-week high of ₹188.20.
