Monday , December 16 2019
Home / BUSINESS / EQUITIES / Prestige Estates Projects surges as its arm acquires 28.99% stake in DB Realty’s Mumbai project
Prestige Estates Projects surges as its arm acquires 28.99% stake in DB Realty’s Mumbai project

Prestige Estates Projects surges as its arm acquires 28.99% stake in DB Realty’s Mumbai project

Prestige Estate Projects is currently trading at Rs. 299.10, up by 8.85 points or 3.05% from its previous closing of Rs. 290.25 on the BSE.

The scrip opened at Rs. 304.00 and has touched a high and low of Rs. 304.00 and Rs. 295.00 respectively. So far 14790 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 326.25 on 23-Oct-2019 and a 52 week low of Rs. 171.60 on 22-Nov-2018.

Last one week high and low of the scrip stood at Rs. 308.10 and Rs. 285.60 respectively. The current market cap of the company is Rs. 11231.25 crore.

The promoters holding in the company stood at 70.00%, while Institutions and Non-Institutions held 29.06% and 0.94% respectively.

Prestige Falcon Realty Ventures (PFRVPL), wholly owned subsidiary of Prestige Estates Projects, has acquired around 1.32 lakh equity shares representing 28.99% (without considering other convertible instruments in the entity) of the equity share capital of DB Realty’s Mumbai project — DB (BKC) Realtors from Trinity Capital (Ten).

Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.