Emami Infrastructure's stock plunged by 3.23% to Rs 75 per share at 1351 hours in Friday’s trading session. The stock witnessed profit booking owing to company’s tie-up with the Sheth Corp for a real estate project in Mumbai.
Emami Group recently pumped in Rs 350 crore to join hands with Sheth Corp for 50% partnership in their Mulund Project. Emami Group and Sheth Corp, prominent names in the real estate industry, announced the launch of their flagship project “Montana” in Mulund.
Emami Group has so far successfully delivered more than 24 prestigious residential and commercial projects, comprising of 36 million sq ft area, primarily in Kolkata.
Other infrastructure stocks are trading flat with slightly positive bias. Major indices in the market are trading firm in green. Nifty is trading higher by 36 points at 9123 levels; and Sensex is trading higher by 150 points at 29484 levels.