HDIL gains as court grants relief against FIR for SRA project

The company was granted ad-interim relief by the Bombay High Court after it challenged the F.I.R with regards to a SRA project in suburban Mumbai

Shares of Housing Development & Infrastructure were up over 5% at Rs 71 after the company which challenged the F.I.R with regards to a SRA project in suburban Mumbai was granted ad-interim relief by the Bombay High Court.

On December 3, 2014, the company had informed that an F.I.R. was filed against Government Officials, SRA Officials, the Company and its Directors with regard to a Project approved under SRA Scheme in Motilal Nehru Nagar, Bandra (East) in the year 2005-06, HDIL said in a release today.

The stock opened at Rs 67 and touched a high of Rs 71.45. At 11:20AM, over 6.6 million shares were traded on both the stock exchanges.