Textile major Mafatlal Industries today surged by over 8% on the BSE amid media reports that Piramal Realty and Sunteck Realty are close to buy the company's plot in central Mumbai for Rs 750 crore.
Buoyed by the reports, shares of the company jumped by 8.15% to close the day at Rs 217.65 on the Bombay Stock Exchange (BSE). In intra-day trade, the counter zoomed up by 16.47% to a high of Rs 234.40.
According to media reports, Piramal Realty, owned by Piramal Healthcare Chairman Ajay Piramal, and Mumbai-based Sunteck Realty are close to sign a deal to buy Mafatlal Industries' seven-acre plot in Mumbai for Rs 750 crore.
In a clarification to the reports, Mafatlal in a regulatory filing to the BSE said, "The company is at an advanced stage of negotiations with some of the prospective purchasers. However, no deal has been signed as yet."
Also Piramal Healthcare has issued a clarification to the stock exchange, saying, "The reports does not pertain at all to the company. The company is not buying any land from Mafatlal Industries."