NITCO updates on Kanjurmarg land sale to Runwal arm; INR 143 cr received

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NITCO · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-5.3%Reaction day

₹85.48

prior close

₹85.30

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-3.6% vs market

Ceramics peers, median of 9sector-0.5%-4.8% vs sector

On the reaction day the stock moved 3.6 pts less than Nifty Microcap 250 and 4.8 pts less than its Ceramics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.4

10m

+1.6

15m

+1.2

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.3-1.6-3.6-0.5-4.8

Next day

-6.4-1.0-5.4-0.3-6.1

-8.5-2.6-5.9-2.0-6.5

-15.0-5.1-9.8-4.9-10.1

-15.8-6.1-9.7-5.6-10.2

-18.5-8.3-10.2-7.2-11.3

-19.3-6.4-13.0-3.3-16.0

15d

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UpDownMarket · Nifty Microcap 250Sector · Ceramics peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NITCO has registered the conveyance deed for 75% of its Kanjurmarg, Mumbai land in favour of R Siddhatva Developers, a step-down subsidiary of Runwal Construction. INR 143 crores consideration already received. For the remaining 25% land, the sale agreement is registered; conveyance deed will be executed on receipt of 1,00,000 sq ft commercial RERA carpet area plus 8,500 sq ft basement space. NITCO expects around INR 250 crores in revenue from the commercial space sale.

Likely market impact

Strong cash inflow of INR 143 cr already received, with up to INR 250 cr more expected, supporting liquidity and potential debt reduction.