Tissue culture plants and bio informatics company Mavens Biotech Ltd said it signed a memorandum of understanding (MoU) with Bangalore-based Garuda Group to develop projects in real-estate, township development and other infrastructure related areas.
This joint venture (JV) has already identified three projects in and around the Bangalore city for the development of a mall, hotel cum convention centre and large township.
On Monday, Mavens Biotech shares increased 5% to Rs20 on the Bombay Stock Exchange, while the Sensex closed 1.2% higher at 18,081 points.
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