Neuland Laboratories Spikes Over 4% Enters Into JDA


Pharma player Neuland Laboratories is spiking on BSE surging over 4% in the opening hours of trade on Monday's session.

The company has entered into a Joint Development Agreement (JDA) with Phoenix Embassy Techno Zone private Ltd (Developer) for the development of the land owned by the company at Nanakramguda.

In line with the JDA, the company has asked Phoenix Embassy Techno Zone private Ltd for the sale of 0.12 million sq ft out of company share.

The company has also entered into Supplementary Development Agreement (SDA) with the developer to define, demarcate, allot and allocate leasable/saleable area between the parties in the project and record the commitment of developer nominees to acquire 0.12 million sq ft out of company’s share.  

BSE Healthcare index is although trading in bearish mood in the opening hours of trade dipping over 42 points or 0.28% at 14815 level. 

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