India's Bombay Dyeing hits 5-year high, lifts realty stocks on land sale

Embassy Developments

14/09/2023 07:58

** Bombay Dyeing  BDYN.NS  surges 20% to 5-year high of
168.60 rupees
    ** Realty-to-textile company sells land parcel for $627 mln
    ** Nifty realty index  .NIFTYREAL  jumps 1.3%, with 9 out of
10 stocks higher (Bombay Dyeing not on the index)
    ** Indiabulls  INRL.NS , Oberoi Realty  OEBO.NS  and
Prestige  PREG.NS  top gainers on the index, in that order
    ** Likelihood of Fed rate pause also a boost, analyst says
    ** Bombay Dyeing last up ~16%, set for best one-day gain
since June 2020, with stock set for busiest trading day since
April 2022
    ** BDYN has now doubled in value so far this year, well
above realty index's 36% jump; Nifty 50  .NSEI  up ~11%

 (Reporting by Savio Dsouza)
 ((savio.dsouza@thomsonreuters.com;))