Mumbai parking system order pushes up Akruti

DALAL STREET SPIKES

Akruti City surged 3.64 per cent to close at Rs 932.2 on Tuesday on reports that the company, in association with Brihanmumbai Municipal Corporation (BMC), has developed a high-tech skypark costing Rs 25 crore.

The multi-storey parking system, which has been set up in Mumbai’s Breach Candy area, is fully automated and can park and retrieve a car within a minute. BMC has identified six locations for replicating this model. The stock has jumped 30 per cent in the last one week. The stock hit an intraday high of Rs 990.80, with volumes of 6,11,787 shares.