HDIL extends gain post Kurla land parcel deal
The stock was up 5% at Rs 74, extending its previous day's 6% rally on the BSE.
 "HDIL extends gain post Kurla land parcel deal")
Housing Development and Infrastructure (HDIL) is trading higher by 5% at Rs 74, extending its previous day’s 6% rally on the BSE, after the real estate developer sold development rights of its land parcel at Kurla to DK Realty (India) for Rs 650 crore.
“The company has registered a development agreement with DK Realty (India) Private Limited to sell the development rights in respect of the piece and parcel of land situated at Kurla, Mumbai, for a consideration of 649.51 crore,” HDIL said in a BSE filing.
The stock hit a high of Rs 74.30 on the BSE. The counter has seen huge trading volumes with a combined 8.19 million shares have changed hands in first half-an-hour of trading as compared to an average 10 million shares that were traded daily in past two weeks on the BSE and NSE.
“The company has registered a development agreement with DK Realty (India) Private Limited to sell the development rights in respect of the piece and parcel of land situated at Kurla, Mumbai, for a consideration of 649.51 crore,” HDIL said in a BSE filing.
The stock hit a high of Rs 74.30 on the BSE. The counter has seen huge trading volumes with a combined 8.19 million shares have changed hands in first half-an-hour of trading as compared to an average 10 million shares that were traded daily in past two weeks on the BSE and NSE.