Britannia Industries has soared 5% to Rs 518 on speculation that the company is close to signing a deal to sell its 6-acre prime real estate land in Bangalore for approximately Rs 550 crore.
"Piramal Group and Bharti-Walmart are among the few prominent players who have explored this land parcel," the report suggests. The land, which houses Britannia's corporate head-office and residential quarters in Bangalore, has been in the market since December last year after Britannia confirmed that it is exploring various options to monetise this asset, added report.
The stock opened at Rs 496 and hit a high of Rs 525 on the BSE. As many as a combined 233,028 shares have already changed hands on the counter so far against an average around 300,000 shares that were traded daily in past two weeks.
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