This small cap stock rises 6%, rebounding well from lows! Do you own it?

Stock Market Today: The small cap stock or Sharda Motor Industries Ltd rises 6% during the intraday trades on Tuesday, rebounding well from lows!

Sharda Motor Industries share price movement

Sharda Motor Industries share price opened at ₹1650 on the BSE on Tuesday, which was around 1.7% higher than its previous close. Sharda Motor Industries share price slipped to an intra-day low of ₹1609.95 but Sharda Motor Industries rebounded sharply to an intra-day high of ₹1720.70, translating into raise of close to 7% compared to the day's low. The stock has gained 6% compared to the previous day's close.

While Sharda Motor Industries had seen its share price correct to 52 week or 1 year lows of close to 1535 levels a few days back, it is seeing good recovery of late too

Sharda Motor Industries developments

Sharda Motor Industries informed the NSE and the BSE on 24 February 2025 that the Company has entered into an agreement to transfer the leasehold rights over the land and building of the Company situated at Haridwar, Uttarakhand.

Sharda Motor Industries has entered into Agreement to transfer the leasehold rights of “land and building” of the Company located at Plot No. 4, Sector-2, I.I.E. Ranipur, Haridwar (Uttranchal) having an area of aprox 12,325 sq. mts. The buyer of the land is Avadh Rail Infra Limited, while Sharda Motor Industries also clarified that the buyers do not belong to the promoter or promoter group or group companies

Consideration received from such sale or disposal or size of agreement is Rs.23.05 Crores to be received within a period of 60 days from the date of the Agreement as above/ on or before registration of transfer with concerned authority, whichever is earlier.

The expected date of completion of sale or disposal of the land portion is also 60 days from the date of execution of the Agreement as indicated.

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