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The board of directors of Foods and Inns on Tuesday approved a proposal for sale of land, located at Sion-Trombay Road, Deonar, Mumbai. The consideration for the sale will be not less than ₹171 crore, the company said in a statement. The agreement for sale will be entered into within 90 days from the date of the board meeting (March 13) and the expected date of completion of sale will be within nine months of entering into the agreement for sale, it added. Shares of BSE-listed Foods & Inns, after touching its 52-week high at ₹1,800, closed at ₹1,749, compared to the previous day’s close of ₹1,715.65.
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