India's Mahindra Lifespace gains on $26.7 mln investment to expand industrial park

Godrej Properties

25/11/2024 10:08

** Shares of real estate developer Mahindra Lifespace
Developers  MALD.NS  closed 5.13% higher, its biggest one-day
gain since Sept. 25
    ** Stock among top gainers on Nifty Realty Index
 .NIFTYREAL , which is up 2%
    ** Co's units and Sumitomo Corp  8053.T  agree to invest
2.25 bln rupees ($26.70 mln) to expand industrial
park in Tamil Nadu
    ** MALD marks second-busiest day in over two weeks, with
over 276,000 shares traded
    ** Analysts' avg rating on stock is "buy," same as that on
peer Godrej Properties  GODR.NS ; median PT is 700 rupees - LSEG
data
    ** Stock down 11% YTD vs a 31% gain in  .NIFTYREAL 

($1 = 84.2625 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))