Oberoi Realty surges 11% after it places highest bid for Tata Steel land
No Comments Sub Category:Infrastructure Posted On: Apr 03, 2014
After the company emerged as the highest bidder for Tata Steel’s 25-acre land parcel in Borivali, Mumbai, The scrip of Mumbai-based realty major Oberoi Realty zoomed by 11.4 per cent or 23 points to trade at Rs 221 a share in intra-day trade.
After the conclusion of an e-auction on Monday, according to a statement issued by Tata Steel, The Company’s final bid was for Rs 1,155 crore.
In a filing with the exchange the realty company said: “The sale will be concluded after receipt of the requisite approvals. Oberoi Realty is awaiting a detailed communication for the next steps in the process.”
Source: Hindustan Business Line
Tags:
Borivali, e-auction, Intra-day trade, Mumbai, Oberoi Realty, Tata Steel’s
