India's Prestige Estates up on land deal in Bengaluru

Prestige Estates Projects

05/04/2024 07:01

** Shares of Prestige Estates Projects  PREG.NS  rose as
much as 3.5% before trimming some gains, last up 0.4% to 1,309
rupees
    ** Real estate developer says it acquired land in Bengaluru
for 4.5 bln rupees ($54 mln); says gross development value is 45
bln rupees
    ** Nifty Realty index  .NIFTYREAL  jumped to session high
after RBI kept key lending rates unchanged; PREG's session high
was before the RBI announcement
    ** Mahindra Lifespace  MALD.NS  top pct gainer on realty
index
    ** Seven out of 10 stocks on realty index, including PREG,
rated "buy" or higher on avg, rest rated "hold" - LSEG data

($1 = 83.4050 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))