Sunteck Realty surges on inking JV agreement to develop land in UAE

Sunteck Realty is currently trading at Rs. 311.90, up by 6.85 points or 2.25% from its previous closing of Rs. 305.05 on the BSE. The scrip opened at Rs. 305.20 and has touched a high and low of Rs. 313.00 and Rs. 305.00 respectively. So far 8804 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 437.00 on 12-Jul-2013 and a 52 week low of Rs. 221.25 on 11-Feb-2014. Last one week high and low of the scrip stood at Rs. 318.10 and Rs. 290.40 respectively. The current market cap of the company is Rs. 1953.21 crore. The promoters holding in the company stood at 73.49% while Institutions and Non-Institutions held 5.58% and 20.93% respectively. Sunteck Realty through its overseas subsidiary (WOS) has entered into a Joint Venture Agreement for development of land in UAE. Earlier, Piramal Sunteck Realty, a joint venture (JV) between Piramal Realty part of the Ajay Piramal Group and Sunteck Realty, has partnered for interior designing with Sussanne Roshan’s plush interiors brand. Sunteck Realty primarily focuses on the development of ultra premium and luxury residential properties in city-centric locations of Mumbai. Its development activities include multi-unit apartment buildings, block re-developments, planned communities and commercial spaces.