Bombay Dyeing spurts on realty bonanza

DALAL STREET SPIKES

Bombay Dyeing and Mahindra Gesco Developers scrips spurted after National Textile Corporation (NTC) struck a Rs 421 crore deal for Kohinoor Mills. Both these stocks attracted large buying support as both these are sitting on huge property.

Bombay Dyeing ended 10 per cent higher at Rs 372, while the Mahindra Gesco scrip was up 13.45 per cent to close at Rs 194.40. Yesterday's deal attracted highest ever raw property rates of Rs 10,000 per square foot for approximately 4.2 lakh sq ft property.

In another auction, Indiabulls Real Estate Co has emerged as the highest bidder for Elphinstone Spinning & Weaving Mills with its bid of Rs 441.75 crore.