Puravankara surges on acquiring stake in PPL Khondapur Developers
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Puravankara is currently trading at Rs. 259.30, up by 13.00 points or 5.28% from its previous closing of Rs. 246.30 on the BSE.
The scrip opened at Rs. 251.25 and has touched a high and low of Rs. 267.50 and Rs. 250.75 respectively. So far 9954 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 269.15 on 30-Jan-2024 and a 52 week low of Rs. 72.50 on 10-Apr-2023.
Last one week high and low of the scrip stood at Rs. 267.50 and Rs. 226.05 respectively. The current market cap of the company is Rs. 5841.00 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 16.89% and 8.11% respectively.
Puravankara has acquired 4,100 equity shares of Rs 100 each at par aggregating to Rs 4,10,000 by subscribing to the private placement of PPL Khondapur Developers, the step down wholly owned subsidiary of the company. As a result of the investment, PPL Khondapur will become step down subsidiary company from step down wholly owned subsidiary of the company. This investment will help PPL Khondapur to meet its expansion plans.
Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.
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