Shares of Mahindra Lifespace Developers Ltd. gained the most in nine months since Aug. 19, after it won two redevelopment projects in Santacruz West, Mumbai.
The said project has a revenue potential of Rs 500 crore, the company said in an exchange filing.
Shares of the company jumped 7.36% to Rs 373.40 apiece as of 11:13 a.m., compared with a 0.22% decline in the benchmark Nifty 50. The total traded volume so far was at 47.6 times its 30-day average.
The eight analysts tracking the company, maintain a 'buy' rating on the stock, according to Bloomberg data. The 12-month consensus price target implies an upside of 35.5%.
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