The stock surged 8% to touch a high of Rs 251 and finally ended with a gain of 7% at Rs 249. Around 117,955 shares were traded on the BSE today.
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(Updated at 1046 hrs)
Sobha Developers has moved up 3% this morning on plans of land sale in Chennai.
The stock opened at Rs 236 and gained over 4% to touch a high of Rs 242. It is now trading at Rs 240 - up 3.3%. Over 24,898 shares have changed hands at the counter so far on the BSE.
The company is looking to offload a part of its 3,000-acre land bank across India in an effort to deleverage its balance sheet. The Bangalore-based real estate developer is in talks to sell two of its land parcels. The market rate for the 44-acre area is estimated to be around Rs 120 crore.
