Sansera Engineering share gains after signing MoU with Karnataka to set up manufacturing facility

Sansera Engineering (Sansera) shares rose 1.96 per cent, reaching an intraday high of Rs 1,445.05 a share.

Following the company’s announcement that it has signed a memorandum of understanding (MoU) with Karnataka Udyog Mitra for the acquisition of 55 acres of industrial land in Harohalli, Bengaluru, the share raised.

In the filing, the company shared, “Entered into a Memorandum of Understanding with Karnataka Udyog Mitra, Directorate of Industries & Commerce, Government of Karnataka for the acquisition of 55 acres of industrial land at Harohalli, Ramanagra, Bengaluru.”

According to the company, the strategic move is a part of Sansera’s long-term growth and expansion goals in the region for the non-automotive and automotive sectors.

The company plans to invest over Rs 2100 crore for the following three to five years. According to Sansera Engineering, this may potentially result in the creation of approximately 3,000–4,000 new direct and indirect employment in the area.

As of 10:24 am, Sansera Engineering shares were trading 1.46% higher at Rs 1,439.00.

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