BSEL Infra shares up 8% in JV stake sale

MUMBAI: Shares of BSEL Infrastructure Realty were up roughly 8% at Rs17.70 after the company said it sold its stake in a Pune hotel project, pocketing close to Rs15 crore from the sale.

In an announcement to the BSE, the company said it sold 20 lakh shares in B W Highway Star Hotel project, representing roughly 20% of its equity, to Kamat Hotels and a subsidiary of Unity Infraprojects. The project was a joint venture between the company, Unity and Kamat.