Brigade Enterprises rises on acquiring 100% stake in Tetrarch Real Estates
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Brigade Enterprises is currently trading at Rs. 442.60, up by 5.40 points or 1.24% from its previous closing of Rs. 437.20 on the BSE.
The scrip opened at Rs. 437.40 and has touched a high and low of Rs. 447.10 and Rs. 437.40 respectively. So far 376 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 585.00 on 15-Sep-2022 and a 52 week low of Rs. 385.25 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 464.40 and Rs. 430.95 respectively. The current market cap of the company is Rs. 10220.67 crore.
The promoters holding in the company stood at 43.82%, while Institutions and Non-Institutions held 38.72% and 17.46% respectively.
Brigade Enterprises has acquired 100% stake in the equity shares of Tetrarch Real Estates from its existing shareholders. Accordingly, Tetrarch Real Estates has become a wholly owned subsidiary of the company with effect from January 13, 2023. The acquisition is made with the objective to undertake real estate development projects in the company.
Brigade Enterprises is engaged in developing residential, commercial and retail properties primarily in Bangalore and Mysore, and has also developed and is managing a number of serviced apartments under the brand, Brigade Homestead.
