Phoenix Mills rose 2.05% to Rs 333 at 10:01 IST on BSE after the company said it has acquired entire 19.38% equity stake held by MTX Hotels, Amitabh Tayal and Priyank Tayal in Gangetic Hotels.
The company made the announcement after market hours yesterday, 6 October 2015.
Meanwhile, the S&P BSE Sensex was up 51.11 points or 0.19% at 26,983.99.
On BSE, so far 732 shares were traded in the counter as against average daily volume of 2,007 shares in the past two weeks.
The stock hit a high of Rs 340 and a low of Rs 331.50 so far during the day. The stock had hit a 52-week high of Rs 415.80 on 29 December 2014. The stock had hit a 52-week low of Rs 296.35 on 7 September 2015.
Post acquisition, Gangetic Hotels (GHPL) has become a subsidiary of Phoenix Mills.
On consolidated basis, Phoenix Mills' net profit rose 1.1% to Rs 25.59 crore on 13% growth in net sales to Rs 396.03 crore in Q1 June 2015 over Q1 June 2014.
Phoenix Mills focuses on real estate development and entertainment.
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