Phoenix Mills strengthens on hiking stake in ISMDPL to 100%

29 Dec 2016

Phoenix Mills is currently trading at Rs 366, up by 4.60 points or 1.27% from its previous closing of Rs. 361.40 on the BSE.

The scrip opened at Rs. 366.50 and has touched a high and low of Rs. 367.95 and Rs. 366.00 respectively. So far 151 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 445.00 on 08-Sep-2016 and a 52 week low of Rs. 238.30 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 387.00 and Rs. 355.50 respectively. The current market cap of the company is Rs. 5605.31 crore.

The promoters holding in the company stood at 62.86%, while Institutions and Non-Institutions held 33.31% and 3.83% respectively.

Phoenix Mills has acquired 8.72% equity stake in Island Star Mall Developers (ISMDPL) from Pinnacle Real Estate Development (PREDPL) on December 28, 2016. Subsequent to the aforesaid acquisition, the direct equity stake of the company in ISMDPL has increased from 91.28% to 100% and ISMDPL continues to remain a wholly owned subsidiary of the company.

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