Heard on the street: Bombay Dyeing Up 6% as Co gets approval for Mumbai realty project

Shares of Bombay Dyeing rose 5.8% to 378.45 on Thursday amid speculation the company has got the final regulatory approval for a one million square feet-residential project in Central Mumbai. Analysts said investors are heaving a sigh of relief,given that municipal authorities have been more selective about giving approvals to developers recently. Brokers said the company has 65 acres of mill land in Central Mumbai. The stock has risen 23% so far in September with promoters, including Nusli Wadia, Maureen Wadia and Ness Wadia buyng shares in the secondary market.


Contributed by Nishanth Vasudevan