Brigade Enterprises rises on launch of new project in Bangalore

The stock has rallied 6% to Rs 57.20 on the National Stock Exchange.

Brigade Enterprises has moved higher by 6% to Rs 57.20 after the real estate developer announced the launch residential project Brigade Cosmopolis in Bangalore, covering total super built up area of 1.20 square feet.

This project will feature 880 well-planned, spacious premium apartments and penthouses with areas ranging from 1,250 square feet (sft) to 4,020 sft covering a total super built-up area of 1.2 million sft, Brigade Enterprises said in a statement.

Brigade Cosmopolis is a project of Brigade Properties Pvt. Ltd, a joint venture between Brigade Enterprises Ltd. and GIC, Singapore.

The stock opened at Rs 56 and hit a high of Rs 58.50 on the NSE. A combined 144,000 shares change hands on the counter till noon deals on NSE and BSE.