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Mangal Credit and Fincorp gains on signing MoU to acquire land in Maharashtra

Mangal Credit and Fincorp is currently trading at Rs. 41.60, up by 0.10 points or 0.24% from its previous closing of Rs. 41.50 on the BSE.

The scrip opened at Rs. 43.00 and has touched a high and low of Rs. 43.00 and Rs. 41.40 respectively. So far 10229 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 65.00 on 30-Apr-2019 and a 52 week low of Rs. 32.00 on 25-Oct-2019.

Last one week high and low of the scrip stood at Rs. 43.00 and Rs. 40.20 respectively. The current market cap of the company is Rs. 80.35 crore.

The promoters holding in the company stood at 53.98%, while Institutions and Non-Institutions held 0.01% and 46.01% respectively.

Mangal Credit and Fincorp has signed a Memorandum of Understanding (MoU) to acquire 26 Acre and 2 Gunta land situated at Village Adali, District Sindhudurg in the state of Maharashtra. The said land holds good amount of reserves of Iron ore and hence the company is acquiring this land as a strategic investment.

Mangal Credit and Fincorp is engaged in the financing and investment activities in India. It also involves in the production and trade of cranes, hoists, and spares.

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