India's Sunteck Realty hits over 1-wk high on UpGrad deal

Sunteck Realty

02/03/2023 04:04

** Shares of real estate development co Sunteck Realty Ltd
 SUNT.NS  up as much as 3.7% to 317.40 rupees, their highest
since Feb. 22
    ** Stock posts biggest intraday pct jump since Feb. 16
    ** Co, on Wednesday after market hours, said it signed a
lease deal with UpGrad for its premium commercial project
Sunteck BKC51
    ** Project expected to generate total revenue of 20 bln
rupees ($242.22 mln) over the lease tenure of 29 years 
    ** SUNT on track to rise for second straight session, if
gains hold
    ** Over 57,000 shares change hands by 09:28 a.m. IST, 0.3x
the 30-day moving avg
    ** Six out of seven analysts rating the stock maintain "buy"
or higher rating, while one suggests "hold"; median PT is 500
rupees - Refinitiv data
    ** As of last close, stock down 7.2% so far this year,
extending its decline of 32.9% in 2022


($1 = 82.5700 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))