Phoenix Mills zooms on stake sale in SPV

DALAL STREET SPIKES

Phoenix Mills surged 9.97 per cent to Rs 184.80 after announcing that the German real estate fund MPC Synergy will invest 200 million Euros in a special pupose vehicle (SPV) floated by the company and its associate Entertainment World Developers. The scrip opened at a price of Rs 184.85 and went on to achieve a high of Rs 184.85 and a low of Rs 174 during intra-day trading.

The previous closing price was Rs 168.05. A total of 202,648 shares of Phoenix Mills changed hands at the BSE. The share price has risen 46.58 per cent since the last one month. Phoenix Mills is developer of entertainment and commercial properties.