India's Everest Industries jumps after land sale approval

Everest Industries

29/08/2025 09:08

** Shares of Everest Industries Ltd EVRI.NS rise as much as 8.5% to 674.9 rupees
** Roofing products maker's board approved sale of land admeasuring 23.32 acres at Kurichi Village in Tamil Nadu to G Square Realtors
** Adds, total consideration for sale of land is 1.34 bln rupees ($15.3 mln); co got first tranche of 70 mln rupees on signing of term sheet
** Stock on track for third straight weekly gain, rising 1.2% so far
** More than 101,000 shares traded as of 1:30 p.m. IST, 5x their 30-day moving avg
** EVRI last up 4.5%, cutting YTD losses to ~20%

($1 = 87.5060 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))