Financial Wire

Saboo Sodium Arm Acquires Additional Land in Udaipur, India for Hospitality Project; Shares Up 4%

-- Samskara Resorts, a wholly-owned subsidiary of Saboo Sodium Chloro (BOM:530461), has acquired a 6,070 square meters of land in Udaipur, India, according to a BSE filing on Wednesday.

The acquired land is adjoining to the earlier acquired parcel of 23,300 square meters for Samskara Udaipur, taking its total landholding for the project to 29,370 square meters to develop a large site for a luxury hospitality project.

The company is developing Samskara Udaipur as a palace-style luxury hotel project with up to 350 rooms.

This is the company's fourth land acquisition in the past 12 months.

Saboo Sodium's shares were up nearly 4% in recent trade.

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