India's Sunteck Realty up on annuity income business expansion

Sunteck Realty

03/04/2024 08:53

** Shares of Sunteck Realty  SUNT.NS  rise as much as 2.3%
to 440.05 rupees, last up 1.4%
    ** Real estate developer expands its annuity income business
as it enters an agreement with Bennett, Coleman & Co for its
building at Sunteck Icon
    ** Sunteck Icon to generate a rev of close to 20 billion
rupees (nearly $240 million) over 29 years
    ** SUNT on track for third consecutive session of gains
    ** More than 440,000 shares change hands, nearly same as the
30-day avg 
    ** Ten analysts covering the stock on average have a "strong
buy" rating; median PT is 565 rupees - LSEG data
    ** Stock down ~2% YTD, had gained 35% in 2023 for best
yearly gains since 2021



($1 = 83.4275 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))