Sunteck Realty - Acquisition of 50 acres - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Sunteck Realty ltd has entered into an agreement to acquire 50 acres in emerging micromarket, Vasind (District Thane) with potential to develop approximately 2.6 mn sq ft integrated residential township under SunteckWorld Brand. Company expects Revenue generation of Rs. 1,250 crores (Rs. 12.5 Billion) envisaged for next 4-5 years. This is positive development for the company but many things will depend on the execution of the project as supply in Thane will continue to rise."

Shares of SUNTECK REALTY LTD. was last trading in BSE at Rs.272.2 as compared to the previous close of Rs. 272.5. The total number of shares traded during the day was 24087 in over 810 trades.

The stock hit an intraday high of Rs. 277.9 and intraday low of 267.5. The net turnover during the day was Rs. 6550878.

Source : Equity Bulls

Keywords