Prestige Estate Projects rallies on expansion plans
Promoters held 70 per cent stake in the company as of March 2017.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Prestige Estates Projects surged over 3 per cent on Wednesday on reports that the company is looking to raise funds by divesting stake across its business verticals, starting with the commercial and retail portfolios.
Following the development, the stock gained 7.02 per cent to Rs 267.40 on BSE. It opened at Rs 251.80 and touched an intraday high and low of Rs 270.45 and Rs 250.10 respectively. It eventually ended the session at Rs 257.70, up 3.14 per cent.
Promoters held 70 per cent stake in the company as of March 2017.
The scrip touched its fresh 52-week high of Rs 291.45 on July 11, 2017 and its 52-week low of Rs 141.30 on November 21, 2016.
The Bangalore-based company, which is said to have sounded out some top private-equity players, has multiple realty businesses ranging from retail to commercial to hotels.
Following the development, the stock gained 7.02 per cent to Rs 267.40 on BSE. It opened at Rs 251.80 and touched an intraday high and low of Rs 270.45 and Rs 250.10 respectively. It eventually ended the session at Rs 257.70, up 3.14 per cent.
Promoters held 70 per cent stake in the company as of March 2017.
The scrip touched its fresh 52-week high of Rs 291.45 on July 11, 2017 and its 52-week low of Rs 141.30 on November 21, 2016.
The Bangalore-based company, which is said to have sounded out some top private-equity players, has multiple realty businesses ranging from retail to commercial to hotels.
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