Ravinder Heights Limited saw its shares drop by 2% following news that its wholly-owned subsidiary, Radhika Heights Limited, and its step-down WOS received an email on December 30, 2024, from Haryana’s Directorate of Town & Country Planning.
The email notified the company about deficiencies in a land application submitted by Bestech India Private Limited for a residential colony license. The application, which involves a 28.8625-acre plot in Harsaru, Gurugram, was returned due to these issues. Investors are awaiting further updates on the matter.
As the situation unfolds, Radhika Heights’ stock faces uncertainty. The company has yet to comment on the specific nature of the deficiencies, and further developments will be announced in due course.
As of 10:16 a.m., Ravinder Heights shares were trading 2.68% lower at Rs 70.50 on the NSE.
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