India's Bombay Dyeing hits over 4-yr high on dispute settlement with Axis Bank

Bombay Dyeing And Mfg

05/09/2023 05:43

** Shares of textiles maker and real estate developer Bombay
Dyeing and Manufacturing Company  BDYN.NS  rise as much as 7.80%
to 146.45 rupees, marking sharpest intraday pct gain in two
weeks
    ** BDYN stock hits highest level since April 4, 2019 
    ** BDYN on Monday said it settled a dispute with Axis Bank
and executed a conveyance deed in favour of the bank
    ** Deed will enable independent, exclusive access to Axis
Bank's headquarters, for an approximate sum of 1.49 billion
rupees ($17.99 million) 
    ** More than 3.2 mln shares change hands by 10:00 a.m. IST,
0.8x the 30-day avg 
    ** Stock up 71.42% so far this year, as of last close

($1 = 82.8325 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))