The Hindu Business Line : Stocks rise on hopes of realty development

MUMBAI: Stock prices of companies having huge property for real estate development rose during Wednesday's trading following the Supreme Court order.

Stock price of several companies, which have huge land that could be used for developing real estate, had shot up on expectations of unlocking land value.

The stocks that rose on Wednesday after the Supreme Court verdict include: Bombay Dyeing (up 8.75 per cent at Rs 378.70 on the BSE), Morarjee Realities (9.5 per cent at Rs 291.70), Nesco (6.3 per cent at Rs 839.85) and Indiabulls (9.12 per cent at Rs 174.05). The stocks of Phoenix Mills and Ruby Mills also went up.

A dealer with a domestic broking firm said that the stock prices of several companies had fallen after the Bombay High Court order and now there would be some buying interest in them.

Companies owning the mill land were, however, not prepared to make any comment, saying that they had not read the order.

More Stories on : Courts/Legal Issues | Stocks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Low' in southeast Bay set to intensify

Raman Roy, Lankan co join to tap BPO opportunity

WTO meet: Stalemate on farm, export subsidies continues

E&Y evolves auditing standard for services companies

SC allows NTC mills, buyers to submit development plans

Stocks rise on hopes of realty development

Adobe forms new biz unit in India

Indian Hotels buys Sydney's W Hotel for $27 million

Panel asks Govt not to tax ECS payments by companies