The day after Century Textiles and Industries’s wholly-owned subsidiary Birla Estates acquired a 5-acre land parcel in Gurugram, the company’s shares jumped more than 8%.
The land parcel, according to the company, has a development potential of around 10 lakh square feet and is expected to generate revenue of over Rs 1,400 crore.
Shares of Century Textiles were trading on the NSE at Rs 2,192.95 at 09.48 am. The positive developments also caused the counter’s volume to soar, with six lakh shares trading hands so far on the exchanges, more than double the average of three lakh shares exchanged daily over the course of a month.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.