Twilight Litaka lights up on land sale talk

The market is abuzz with talk that Twilight Litaka, which has 11-acre surplus land at Pune, has been approached by a developer with an offer of Rs 50 crore. As per grapevine, the developer plans to develop an IT park-cum-office complex of approximately 5 lakh sq ft in that space.

The Pune-based pharma company recently signed an agreement with Malaysia’s Elken, which has operations in six countries and $250-million turnover. Elken is learnt to have already started buying from Litaka for Indian market and is believed to be outsourcing for other Asian countries in the future. Recently, the company also got its products registered in Sri Lanka and Philippines and exports have already started to these two countries. Shares of Twilight Litaka rose 1.5% to close at Rs 68.