InvestorQ : Why has Mukand rallied so sharply in the last few days?
Deepa Salunkhe made post

Why has Mukand rallied so sharply in the last few days?

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Arya Nanda answered.
2 weeks ago
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Mukand rallied 15% and hit a 52-week high of Rs.79.80 on the last day of the fiscal year supported by a 5-fold jump in volumes. The trigger for the stock outperformance came after it announced that it had completed the transfer of 55 acres of surplus leasehold land at Thane to NTT Global Data Centres. Mukand will receive a total consideration of Rs.802 crore and this sum will be utilized by the government to defray its debt in the books.

Mukand reduces its debt by Rs.975 crore in FY21. This is likely to substantially reduce its finance costs.

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