Prestige Estates Projects moves up on acquiring 10% stake in Prestige Sterling Infraprojects
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Prestige Estates Projects is currently trading at Rs. 437.90, up by 24.20 points or 5.85% from its previous closing of Rs. 413.70 on the BSE.
The scrip opened at Rs. 416.95 and has touched a high and low of Rs. 451.10 and Rs. 413.75 respectively. So far 63307 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 553.40 on 18-Jan-2022 and a 52 week low of Rs. 315.80 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 451.10 and Rs. 412.50 respectively. The current market cap of the company is Rs. 17437.48 crore.
The promoters holding in the company stood at 65.48%, while Institutions and Non-Institutions held 31.32% and 3.20% respectively.
Prestige Estates Projects has acquired 10% equity stake in Prestige Sterling Infraprojects on July 29, 2022. With these acquisitions, the Company will hold 90% equity shares in Prestige Sterling Infraprojects. Prestige Sterling Infraprojects owns/right to own around 35 acres of land at Off Outer Ring Road, Varthur Hobli, Bangalore having potential developable area of around 3.4 million sft. The shares acquired at Rs 117.57 crore.
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.
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