Shares of Brigade Enterprises Ltd. jumped over 4% on Thursday after it signed a joint development agreement for a residential project in Bengaluru with an estimated gross development value of Rs 1,100 crore.
Spread across eight acres, the project on Tumkur Road will encompass a total development area of about 1.2 million square feet. It will have two- and three-bedroom homes with a variety of amenities, according to an exchange filing.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The neighbourhood will include shopping centres, office spaces, and leisure areas. The residential project is in addition to the company's pipeline of over 12 million square feet of residential projects planned across Bengaluru, Chennai and Hyderabad in the coming year, it said.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Brigade's stock rose as much as 4.45% during the day to Rs 1,429 apiece on the NSE. It was trading 2.99% higher at Rs 1,408.95 per share, compared to a 0.27% advance in the benchmark Nifty at 9:28 a.m.
The share price has risen 147.74% in the last 12 months and 57.01% on a year-to-date basis. The relative strength index was at 61.81.
Thirteen out of the 14 analysts tracking Brigade Enterprises have a 'buy' rating on the stock and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 1.5%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
