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PURVA Puravankara News Story

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FinancialsSpeculativeMid CapMomentum Trap

India's Puravankara rises on 21 bln-rupee Mumbai redevelopment projects

** Puravankara PURA.NS rises 3.6% to 293.35 rupees; set to gain for third straight session

** Real estate developer to redevelop eight housing societies in Mumbai, with gross development potential of 21 bln rupees ($245 mln)

** About 505,000 shares traded vs 30-day avg of ~416,000

** YTD PURA down 23%

($1 = 85.7790 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))

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