Britannia Industries is trading higher by 2% at Rs 470 in an otherwise weak market on reports that the company is planning to unlock value at its sprawling headquarters of more than nearly seven acres in Bangalore.
India’s largest biscuits and bakery company is planning to develop its property in Bangalore into a commercial and residential complex, a report suggests.
According to real estate developers close to Britannia, the going rate for properties averages Rs 20 crore per acre, thus valuing the property at Rs 150 crore, added report.
A combined 5,000 shares have changed hands on the counter in opening deals on the NSE and BSE.