Ekennis Software Seeking Joint Development Agreement for Commercial Property in Bengaluru, India; Shares Fall

MT Newswires Live

01-08

Ekennis Software Service (BOM:543475) shares fell 7% in recent Wednesday trading, a day after the company said it plans to enter into a joint development agreement with developers Dinesh Raj and Ashwini Janardhanam to construct a commercial property on the company's land in Bengaluru, India.

Under the agreement, the developers will be granted permission to begin construction on the property, while Ekennis retains legal possession. The agreement does not constitute a sale or transfer of the property, according to a Tuesday filing.

Price (INR): ₹77.20, Change: ₹-5.8, Percent Change: -6.99%

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