India's Embassy REIT up after Reuters report of planned $400 mln fundraise

Embassy Office Parks REIT

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))