Home / BUSINESS / Nirlon gains on signing long-term leave, license agreement with JP Morgan

Nirlon gains on signing long-term leave, license agreement with JP Morgan

Nirlon is currently trading at Rs. 285.50, up by 1.10 points or 0.39% from its previous closing of Rs. 284.40 on the BSE.

The scrip opened at Rs. 287.10 and has touched a high and low of Rs. 299.00 and Rs. 281.65 respectively. So far 15374 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 299.00 on 06-Dec-2019 and a 52 week low of Rs. 165.10 on 04-Feb-2019.

Last one week high and low of the scrip stood at Rs. 299.00 and Rs. 251.00 respectively. The current market cap of the company is Rs. 2572.87 crore.

The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 12.18% and 16.57% respectively.

Nirlon has signed a long-term leave and license agreement with JP Morgan, the global banking and financial services provider, for premium office space at Nirlon Knowledge Park (NKP) in Mumbai. JP Morgan will take up approximately 1.15 million sq. ft. of office space that is expected to be delivered by the second quarter of 2021.

NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon. NKP houses some of the top global and Indian corporates with approximately 1.8 million square feet of IT/ITES office space already licensed.

Nirlon makes industrial fabrics, which can be used for applications such as Belting, tarpaulins, grey textiles etc.

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