India's Embassy REIT up after Reuters report of planned $400 mln fundraise
02/04/2024 09:29
** Shares of Embassy Office Parks REIT EMBA.NS up 2% at
373.99 rupees
** Real estate investment trust plans to raise $400 mln by
June, Reuters reported on Tuesday citing sources
** Stock was up ~1.5% ahead of the report
** Still, volumes remain thin at 0.1x the 30-day avg
** Fifteen analysts rate EMBA "buy" on avg - LSEG data
** Stock fell 1.1% in March, its first monthly decline since
Sept. 2023
** YTD, however, stock is up over 15% so far after four
straight yearly drops
(Reporting by Varun Vyas in Bengaluru)
((varunvyas.hebbalalu@thomsonreuters.com))