{
  "id": 3215743,
  "title": "Nitco Shares Jump Nearly 14% After Alibaug Land Deal, Company Expects Up To ₹1,500 Crore Over Five Years",
  "url": "https://urgent.news/2026/08/25/nitco-shares-jump-nearly-14-after-alibaug-land-deal-company-expects",
  "topic": "world",
  "section": "World",
  "published": "2026-08-25T07:00:45.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/nitco-shares-jump-nearly-14-after-alibaug-land-deal-company-expects-up-to-1500-crore-over-five-years"
  },
  "original_language": "en",
  "account": "Mumbai: Nitco’s shares experienced a significant surge on Tuesday, August 25, following the announcement of a joint development agreement for its Alibaug land parcels. The company's stock rose by 13.5 percent to a high of Rs 109.25, only to retreat and trade 5.35 percent higher at Rs 101.43 by 10.39 am. Nitco’s wholly-owned subsidiary, Nitco Realties Private Limited, entered into a Memorandum of Understanding (MoU) with HOABL Impactum Land Private Limited on August 24. This agreement covers land parcels in Thal and Lonare villages within Alibaug Taluka, Raigad district. Nitco anticipates receiving between Rs 1,300 crore and Rs 1,500 crore from the transaction over a five-year period, having already received a security deposit of Rs 9 crore. The parties have jointly granted development rights for the Alibaug land parcels to HOABL, with final agreements and documents to be signed after meeting all conditions and obtaining necessary regulatory approvals. Nitco reassured investors that no related-party link exists, as HOABL does not own any shares in Nitco and the deal does not impact the company’s capital structure. HOABL also holds no special rights, such as appointing directors or influencing Nitco’s capital structure. Although Nitco shares have risen by nearly 34 percent over the past six months, they remain down approximately 18 percent from a year ago.",
  "summary": "Mumbai: Nitco shares rose sharply on Tuesday, August 25, after the company announced a joint development deal for its land parcels in Alibaug, Maharashtra. The stock surged 13.5 percent to an intraday high of Rs 109.25. However, it later gave up most of its gains and was trading 5.35 percent higher at Rs 101.43 at 10.39 am. Deal With HOABL Group Nitco’s wholly-owned subsidiary, Nitco Realties…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}