Sunteck Realty moves up on getting nod for proposed scheme of arrangement

16 Nov 2011

Sunteck Realty is currently trading at Rs 386.25, up by 0.45 points or 0.12% from its previous closing of Rs 385.80 on the BSE.

The scrip opened at Rs 385.55 and has touched a high and low of Rs 389.95 and Rs 383.80 respectively. So far 2190 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 688.00 on 16-Nov-2010 and a 52 week low of Rs 243.05 on 02-Sep-2011.

Last one week high and low of the scrip stood at Rs 393.00 and Rs 370.55 respectively. The current market cap of the company is Rs 2429.24 crore.

The promoters holding in the company stood at 70.08% while Institutions and Non-Institutions held 4.52% and 25.40% respectively.

Sunteck Realty has received an approval for proposed scheme of arrangement between the Starlight Systems and Starlight Systems (India) under section 391 to 394 of the Companies Act, 1956. The board at its meeting held on November 14, 2011 has approved for the same.

Sunteck Realty, formerly known as Sunteck Realty & Infrastructure, it is engaged in real estate and construction of residential projects. The company has formed a joint venture with Piramal Enterprises promoted by the Ajay Piramal Group. The JV, called Piramal Sunteck Realty will focus on high-end realty projects in the most sought after locations in metros and select Tier II cities in India and strategic locations across the globe.

Starlight Systems and Starlight Systems (India) are both subsidiaries of the company.

Related Sunteck Realty Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323