India's Puravankara hits near 16-year high

Puravankara

09/04/2024 10:42

** Shares of real-estate developer Puravankara  PURA.NS  up
18.5% to 291.70 rupees 
    ** Reuters could not immediately ascertain a reason for
stock move
    ** Stock touches highest level since May 2008; on track for
third straight session of gains 
    ** PURA gained ~16% last week, its biggest weekly gains
since Sept. 2023; recorded its highest annual and quarterly
sales
    ** Separately, PURA acquired shares worth 410,000 rupees
($4,928.42) in unit on Monday
    ** Stock has been trading above 200-day moving average since
June 2023; day's trading volume more than 8.7x the 30-day avg
    ** With day's gains, PURA up 56% YTD, outpacing 22% gain in
Nifty Realty index  .NIFTYREAL 

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))