Purvankara’s board approves exit from investment in Raidurg. The board of realty company, Purvankara Limited has planned for exit from the investment of Rs 403 cr at Raidurg, Panamaktha Village. This would involve the sale of its entire shares in its three wholly owned subsidiaries.
“The transaction has been authorised on a condition that total inflow should not be less than a sum of Rs 475 cr.”, as per the BSE filing by the company.
Purvankara Limited has given nearly 34% returns on YTD basis. The stock is trading in positive territory higher by 0.5% despite the markets are dull in the morning hours on Wednesday. BSE Realty index is trading lower by nearly 1% at 1563 level. Sobha Limited is the top gainer in the index outperforming the major indices in the market. The stock is trading up by 7% at Rs 341 per share.
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