Oberoi Realty has rallied 5% to Rs 208 in early morning deals on the BSE after the real estate developer has acquired Tata Steel’s Mumbai land for Rs 1,155 crore.
Tata Steel, on Tuesday, sold its 25-acre Borivali land parcel in Mumbai for Rs 1,155 crore to Oberoi Realty through e-auction.
“The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel Board today declared Oberoi Realty Limited as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding,” the steel giant said in a statement.
Oberoi Realty won the tough bid defeating other realty majors to acquire the property.
The stock opened at Rs 205 and touched high of Rs 210 on the BSE. A combined around 15,000 shares changed hands on the counter till 0920 hours on the BSE and NSE.
Shares of Tata Steel too, trading higher by 2% at Rs 373 on the BSE.
Tata Steel, on Tuesday, sold its 25-acre Borivali land parcel in Mumbai for Rs 1,155 crore to Oberoi Realty through e-auction.
“The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel Board today declared Oberoi Realty Limited as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding,” the steel giant said in a statement.
Oberoi Realty won the tough bid defeating other realty majors to acquire the property.
The stock opened at Rs 205 and touched high of Rs 210 on the BSE. A combined around 15,000 shares changed hands on the counter till 0920 hours on the BSE and NSE.
Shares of Tata Steel too, trading higher by 2% at Rs 373 on the BSE.