Puravankara surges on getting nod to acquire Devas Global Services LLP

26 Jul 2018

Puravankara is currently trading at Rs. 102.00, up by 1.50 points or 1.49% from its previous closing of Rs. 100.50 on the BSE.

The scrip opened at Rs. 101.55 and has touched a high and low of Rs. 103.00 and Rs. 101.55 respectively. So far 818 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 182.00 on 22-Dec-2017 and a 52 week low of Rs. 64.05 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 105.95 and Rs. 96.00 respectively. The current market cap of the company is Rs. 2422.48 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 16.61% and 8.39% respectively.

Puravankara has received approval for acquisition of Devas Global Services LLP and to make it a wholly owned subsidiary of the company. The objective of the acquisition is to consolidate the real estate assets and liabilities. The cost of acquisition at which the shares are acquired is Rs 9,99,900.

The Board of Directors of the company at their meeting held on June 25, 2018, approved the same.

Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323