Brigade Enterprises shares pop 4% in trade today; what's driving surge?

Brigade Enterprises share price gained 4.2 per cent on Wednesday, logging an intraday high at ₹1,137.95 after company announced plans to expand in Hyderabad

Brigade Enterprises shares gained 4.2 per cent on Wednesday, logging an intraday high at ₹1,137.95 per share on BSE. At 2 PM, Brigade Enterprises share price was trading 2.7 per cent higher at ₹1,120.6 per share on the BSE. In comparison, the BSE Sensex was up 0.14 per cent at 82,686.52. The company's market capitalisation stood at ₹27,390.55 crore. 

 

The 52-week high of the stock was at ₹1,450 per share and the 52-week low of the stock was at ₹812.85 per share. 

What led to the rally in Brigade Enterprises shares?

The northward movement in the stock came after the company announced it has expanded its portfolio in Hyderabad. 

 

BuzzWorks, the managed and flexible offices arm of Brigade Group added over 50,000 square feet of Mindspace Business Park, HITEC City, Hyderabad, to its existing portfolio. 

 

This launch adds 1000 seats to its existing desk bank. It also underlines the brand’s growing footprint and commitment to delivering premium managed workspaces in high-demand commercial locations, according to the filing. 

 

Located in Cyberabad, the centre will be equipped with amenities including a cafeteria, a wellness room, collaborative zones, recreational areas, phone booths and a common boardroom along with multiple meeting rooms. Following the success of its first Hyderabad centre at Auro Orbit – HITEC City, designed around the Urban Forest theme, BuzzWorks is now set to launch its second workspace in the city. 

About BuzzWorks: 

Brigade Group entered the flexible office space segment with the launch of BuzzWorks in 2019. The brand offers managed, customisable workspaces through two key formats: Built-to-Suit solutions for enterprises with specific design and operational needs, and Ready-to-Occupy offices for businesses seeking high-quality, immediately functional spaces.

About Brigade Group:

Established in 1986, Brigade Group is one of India’s leading property developers with close to four decades of expertise in building positive experiences for all their stakeholders and winning their customers’ trust. Brigade has developed many landmark buildings and transformed skylines across India in the cities of Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram and GIFT City Ahmedabad with developments across Residential, Office, Retail, Hospitality and Education Sectors.