Phoenix Mills spurts on entering into definitive agreements with Starwood

29 May 2015

Phoenix Mills is currently trading at Rs. 379.95, up by 13.65 points or 3.73% from its previous closing of Rs. 366.30 on the BSE.

The scrip opened at Rs. 350.00 and has touched a high and low of Rs. 386.00 and Rs. 347.00 respectively. So far 1594 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 415.80 on 29-Dec-2014 and a 52 week low of Rs. 267.00 on 03-Jun-2014.

Last one week high and low of the scrip stood at Rs. 386.00 and Rs. 347.00 respectively. The current market cap of the company is Rs. 5508.93 crore.

The promoters holding in the company stood at 65.93% while Institutions and Non-Institutions held 28.46% and 5.61% respectively.

Phoenix Mills’ wholly owned subsidiary, Pallazzio Hotels & Leisure, has entered into definitive agreements with Starwood Hotels & Resorts and its affiliates (Starwood) for the management and operation of Pallazzio’s hotel at Lower Parel, Mumbai.

The management of the hotel is currently being transitioned to the Starwood management team, pursuant to which it will be rebranded as The St. Regis, Mumbai.

Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323