Transindia Real Estate jumps on divestment of logistics park

Transindia Real Estate

29/02/2024 08:23

**  Shares of Transindia Real Estate  TRAR.NS  up ~12% in
above-avg vols 
    **  Developer of industrial and logistics parks says it will
sell its logistics park in Indian state of Haryana at enterprise
value of 6.37 bln rupees ($77 mln)
    ** Co to receive 4.33 bln rupees due to the divestment which
will be used to expand its operations in various locations
    ** Stock set for its second best day of 2024, if trend holds
    ** More than 3 mln shares changed hands as of 1:40 p.m. IST,
~2x the 30-day avg
    ** TRAR up ~58% since listing in Aug. 2023, after it being
demerged from Allcargo Logistics  ACLL.NS  


($1 = 82.9163 Indian rupees)

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))