RAYMOND, MAHINDRA LIFESPACE, UCO BANK, CG POWER AND MORE: STOCKS TO WATCH ON JULY 5
Raymond | Textiles and fabric manufacturer announced a significant restructuring move as its board of directors approved the demerger of its real estate business into Raymond Realty. Shareholders of Raymond will receive one equity share of Raymond Realty for each equity share held in Raymond, with no cash consideration involved.
Mahindra Lifespace | Realty firm said the company has closed two significant deals, cumulatively valued at ₹2,050 crore in gross development value (GDV). The first major deal involves Mahindra Lifespaces being selected as the preferred partner for redeveloping seven residential societies in the prestigious Borivali West neighbourhood of Mumbai.
UCO Bank | Public sector lender reported robust growth in its Q1 business update, with total business rising by 11.51% year-on-year to reach ₹4.62 lakh crore, compared to ₹4.14 lakh crore in the same period last year. The bank's total advances showed an increase of 17.78%, amounting to ₹1.94 lakh crore against ₹1.64 lakh crore over the year-ago period.
CG Power | Murugappa group company said it has entered into a development agreement with Skybound Realty Private Ltd, a K Raheja Corp Group company. This partnership, formalised on July 4, 2024, aims to jointly develop the company's property, CG House, located on Dr Annie Besant Road, Worli, Mumbai.