Sharda Motor Industries Ltd. saw a 4% jump in its share price after officially signing an agreement to transfer leasehold rights of its Haridwar property. This strategic decision aligns with the company’s broader objectives of optimizing operational efficiency and asset utilization.
The property, located at Plot No. 4, Sector-2, I.I.E. Ranipur, Haridwar (Uttarakhand), spans approximately 12,325 sq. meters. As per the agreement signed on February 24, 2025, the sale consideration stands at ₹23.05 Crores, expected to be received within 60 days from execution or before the transfer registration.
The buyer, Avadh Rail Infra Limited, is an independent entity with no ties to Sharda Motor’s promoters or group companies. This ensures that the transaction does not fall under related-party dealings and does not involve any issuance of shares or special rights.
Sharda Motor Industries’ shares opened at ₹1,621.00, reaching a high of ₹1,725.00 and a low of ₹1,595.50. The stock’s 52-week high stands at ₹2,952.10, while the low is ₹1,165.05.
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