The Department of Horticulture, Government of Telangana has allotted area admeasuring 28,164 Hectares in the Mahabubabad District of Telangana to
Godrej Agrovet Limited, for the purpose of oil palm cultivation and expansion.
“The said allotment is subject to execution of Memorandum of Agreement and completion of other procedural requirements by the company, within such time and in such manner, as specified by the said Government,” the company said in a regulatory filing on Thursday.
The company stock made early gains following the news of allotment of land in Telangana. At around 11.30 am, Godrej Agrovet Ltd was trading at Rs558 per piece up by Rs8.4 or 1.53% on the BSE.
The scrip opened at Rs560 and has touched a high and low of Rs565.85 and Rs556.20 respectively.
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