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Spectrum Foods Ltd’s shares were up 1.20 per cent after the company provided an update on the construction of its luxury resort project in Pushkar. Construction is on in full swing with approximately 150 workers on-site, to ensure timely completion of the project.
The project, targeted to be completed by the end of 2024, is expected to have a positive impact on its financials, with revenues and net profits expected to flow shortly thereafter.
The company is in discussion with a multi-national hospitality group for a potential tie-up. . The multinational group is considering providing interest-free project finance to support the resort’s construction.
The shares were up 1.20 per cent at Rs 49.63 at 2.55 pm on the BSE.
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