India's Prestige Estates jumps on $56 mln land buy, among top gainers in Nifty Realty

Prestige Estates Projects

22/03/2024 06:53

** Shares of India's Prestige Estates Projects  PREG.NS  up
4.7% at 1,097.55 rupees after rising as much as 6.8% earlier in
the session 
    ** Property developer says it has acquired land in National
Capital Region (NCR) worth 4.68 bln rupees ($56.2 mln)
    ** PREG among top gainers in Nifty Realty index
 .NIFTYREAL , which is up 1.2%
    ** Stock on track for third straight session of gains
    ** Analysts' avg rating on PREG, rivals Sobha  SOBH.NS  and
Brigade Enterprises  BRIG.NS  is "buy" - LSEG data
    ** Stock has fallen ~7% YTD, while Nifty Realty has risen
over 11% 

($1 = 83.3350 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))