Oberoi Realty shines on the buzz of launching residential project in Borivali

Oberoi Realty is currently trading at Rs. 238.50, up by 7.00 points or 3.02% from its previous closing of Rs. 231.50 on the BSE. The scrip opened at Rs. 234.50 and has touched a high and low of Rs. 238.60 and Rs. 231.05 respectively. So far 19740 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 261.55 on 20-May-2014 and a 52 week low of Rs. 154.00 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 256.05 and Rs. 224.30 respectively. The current market cap of the company is Rs. 7798.82 crore. The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 13.78% and 11.22% respectively. Oberoi Realty is reportedly planning to launch a residential project in Borivali by January 2015 a land parcel it purchased from Tata Steel.  The company expects every apartment to be priced around Rs 2 crore. Earlier, SSIII Indian Investments Two had offloaded 60 lakh shares of Oberoi Realty through the open market route. The shares were sold on an average price of Rs 230.61 valuing the transaction to Rs 138.37 crore. On the other hand, Morgan Stanley Asia (Singapore) picked up 38.71 lakh shares of the real-estate firm for Rs 89.03 crore. Oberoi Realty is India’s leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. Oberoi Realty has an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction.